Eastman Chemical (NYSE:EMN) EVP Stephen Glenn Crawford Sells 10,504 Shares

Eastman Chemical (NYSE:EMN) EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the completion of the transaction, the executive vice president now owns 47,287 shares in the company, valued at $4,965,135. This trade represents a 18.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Eastman Chemical Stock Down 0.7 %

NYSE EMN opened at $104.22 on Thursday. The stock has a 50 day moving average price of $106.42 and a 200-day moving average price of $101.65. Eastman Chemical has a one year low of $80.71 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The company has a market capitalization of $12.08 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.81 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the business earned $1.47 earnings per share. Eastman Chemical’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho upped their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $110.00 to $125.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $105.00 target price on shares of Eastman Chemical in a report on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $112.86.

Institutional Investors Weigh In On Eastman Chemical

Several large investors have recently added to or reduced their stakes in EMN. UMB Bank n.a. boosted its holdings in shares of Eastman Chemical by 4.3% in the 3rd quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 96 shares during the period. V Square Quantitative Management LLC increased its position in Eastman Chemical by 3.8% during the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 98 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in Eastman Chemical by 2.8% during the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after acquiring an additional 111 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of Eastman Chemical by 3.3% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock valued at $384,000 after acquiring an additional 111 shares during the period. Finally, Prosperity Consulting Group LLC lifted its holdings in shares of Eastman Chemical by 4.8% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 123 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.