Eastman Chemical (NYSE:EMN) EVP Sells $1,102,920.00 in Stock

Eastman Chemical (NYSE:EMN) EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value 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 represents a 18.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Eastman Chemical Trading Up 0.5 %

Shares of Eastman Chemical stock opened at $104.72 on Friday. The stock has a market capitalization of $12.14 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.83 and a beta of 1.44. Eastman Chemical has a 52-week low of $80.71 and a 52-week 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 stock’s 50-day simple moving average is $106.29 and its 200 day simple moving average is $101.68.

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

Analyst Ratings Changes

Several equities analysts have weighed in on EMN shares. StockNews.com cut Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $114.00 to $119.00 in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $105.00 target price on shares of Eastman Chemical in a research note on Friday, November 22nd. Finally, Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $110.00 to $125.00 in a report on Tuesday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $112.86.

Hedge Funds Weigh In On Eastman Chemical

A number of large investors have recently made changes to their positions in the stock. Cultivar Capital Inc. purchased a new stake in Eastman Chemical during the 2nd quarter worth about $29,000. Wolff Wiese Magana LLC lifted its holdings in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Dunhill Financial LLC lifted its holdings in shares of Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after buying an additional 162 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Eastman Chemical in the first quarter valued at approximately $38,000. Finally, Rothschild Investment LLC purchased a new position in Eastman Chemical during the second quarter valued at approximately $38,000. 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.