Eastman Chemical (NYSE:EMN) SVP Sells $321,405.00 in Stock

Eastman Chemical (NYSE:EMN) SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at $1,298,430. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Eastman Chemical Stock Down 0.1 %

Shares of EMN traded down $0.14 during midday trading on Thursday, hitting $103.54. 1,271,911 shares of the company’s stock traded hands, compared to its average volume of 949,931. Eastman Chemical has a 1 year low of $75.50 and a 1 year high of $114.50. The firm’s fifty day moving average is $105.85 and its 200-day moving average is $101.12. The company has a current ratio of 1.52, a quick ratio of 0.71 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last issued 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 return on equity of 15.37% and a net margin of 9.47%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.61 earnings per share for the current year.

Institutional Trading of Eastman Chemical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its stake in 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 acquiring an additional 96 shares during the last quarter. V Square Quantitative Management LLC raised its stake in Eastman Chemical by 3.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 98 shares during the last quarter. Lcnb Corp raised its stake in Eastman Chemical by 1.7% in the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after acquiring an additional 103 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in Eastman Chemical by 2.8% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after acquiring an additional 111 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of Eastman Chemical by 3.3% during the 3rd 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. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on EMN. 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. Barclays boosted their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Piper Sandler restated a “neutral” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered their price objective on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.50.

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.