Eastman Chemical (NYSE:EMN) SVP Christopher Moore Killian Sells 3,061 Shares

Eastman Chemical (NYSE:EMN) SVP Christopher Moore Killian sold 3,061 shares of the firm’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 completion of the sale, the senior vice president now directly owns 12,366 shares in the company, valued at approximately $1,298,430. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Eastman Chemical Stock Down 0.1 %

NYSE:EMN traded down $0.14 during trading hours on Thursday, reaching $103.54. 1,271,911 shares of the company traded hands, compared to its average volume of 949,931. The business’s 50-day moving average price is $105.85 and its two-hundred day moving average price is $101.12. The stock has a market capitalization of $12.00 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 1 year low of $75.50 and a 1 year high of $114.50. The company has a current ratio of 1.52, a quick ratio of 0.71 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the business earned $1.47 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that Eastman Chemical will post 7.61 earnings per share for the current year.

Institutional Trading of Eastman Chemical

Several large investors have recently modified their holdings of EMN. Capital Research Global Investors grew its holdings in shares of Eastman Chemical by 649.8% in the first quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock worth $452,139,000 after acquiring an additional 3,909,740 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Eastman Chemical by 1,104.3% in the third quarter. Assenagon Asset Management S.A. now owns 933,984 shares of the basic materials company’s stock worth $104,560,000 after acquiring an additional 856,432 shares during the period. Truist Financial Corp grew its holdings in shares of Eastman Chemical by 201.5% in the second quarter. Truist Financial Corp now owns 924,490 shares of the basic materials company’s stock worth $90,572,000 after acquiring an additional 617,889 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Eastman Chemical by 318.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 701,947 shares of the basic materials company’s stock valued at $69,516,000 after purchasing an additional 534,081 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Eastman Chemical by 34.5% during the second quarter. Envestnet Asset Management Inc. now owns 852,551 shares of the basic materials company’s stock valued at $83,524,000 after purchasing an additional 218,531 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EMN. Barclays increased 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 lowered Eastman Chemical from a “buy” rating to a “neutral” rating and increased 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 set a $105.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Mizuho raised their price target on Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $111.50.

Eastman Chemical Company Profile

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.