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

Eastman Chemical (NYSE:EMN) 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:EMN) 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.

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

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.