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

Eastman Chemical (NYSE:EMNGet Free Report) EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction 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 transaction, the executive vice president now directly owns 47,287 shares in the company, valued at $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eastman Chemical Trading Down 0.7 %

Shares of EMN opened at $104.23 on Friday. The business’s 50-day moving average price is $106.37 and its 200-day moving average price is $101.67. Eastman Chemical has a twelve month low of $80.71 and a twelve month high of $114.50. The stock has a market cap of $12.08 billion, a PE ratio of 13.95, a P/E/G ratio of 0.81 and a beta of 1.44. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMNGet Free Report) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the business posted $1.47 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Analyst Ratings Changes

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

View Our Latest Research Report on EMN

Institutional Investors Weigh In On Eastman Chemical

Several hedge funds and other institutional investors have recently modified their holdings of EMN. Cultivar Capital Inc. bought a new stake in shares of Eastman Chemical during the second quarter valued at about $29,000. Wolff Wiese Magana LLC increased its position 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 purchasing an additional 200 shares during the last quarter. Dunhill Financial LLC increased its position 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 purchasing an additional 162 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Eastman Chemical in the first quarter worth approximately $38,000. Finally, Rothschild Investment LLC bought a new position in shares of Eastman Chemical in the second quarter worth approximately $38,000. 83.65% of the stock is currently owned by institutional investors.

About Eastman Chemical

(Get Free Report)

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.

Further Reading

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