Eastman Chemical (NYSE:EMN) SVP Julie A. Mcalindon Sells 4,456 Shares of Stock

Eastman Chemical (NYSE:EMN) SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now directly owns 4,403 shares in the company, valued at approximately $466,013.52. This represents a 50.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Eastman Chemical Trading Down 0.7 %

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

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results 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. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. On average, equities analysts expect that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EMN has been the subject of several recent analyst reports. Mizuho increased their price target on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company upgraded shares of 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 price target on shares of Eastman Chemical in a research note on Friday, November 22nd. Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.86.

Hedge Funds Weigh In On Eastman Chemical

A number of institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of Eastman Chemical in the 1st quarter valued at about $38,000. Price T Rowe Associates Inc. MD increased its position in Eastman Chemical by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 159,474 shares of the basic materials company’s stock worth $15,983,000 after buying an additional 750 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Eastman Chemical by 2.5% in the first quarter. Public Employees Retirement System of Ohio now owns 50,934 shares of the basic materials company’s stock valued at $5,105,000 after buying an additional 1,245 shares during the period. SVB Wealth LLC acquired a new stake in shares of Eastman Chemical in the first quarter valued at approximately $212,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Eastman Chemical by 63.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,344 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,680 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.