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

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

Eastman Chemical Stock Down 2.0 %

Eastman Chemical stock opened at $101.47 on Friday. The business has a fifty day moving average price of $105.89 and a 200-day moving average price of $101.20. Eastman Chemical has a 1-year low of $75.83 and a 1-year high of $114.50. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.79 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.71.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data 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 firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 earnings per share. Equities research analysts forecast that Eastman Chemical will post 7.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Eastman Chemical

Several hedge funds have recently made changes to their positions in EMN. Cultivar Capital Inc. purchased a new stake in Eastman Chemical during the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC increased its holdings in Eastman Chemical by 238.1% in the 3rd 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 during the period. EntryPoint Capital LLC purchased a new position in Eastman Chemical during the 1st quarter worth approximately $38,000. Rothschild Investment LLC purchased a new stake in shares of Eastman Chemical in the 2nd quarter valued at $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the third quarter worth $38,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EMN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered 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 report on Monday, November 4th. Barclays raised their price objective on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Piper Sandler reaffirmed a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a research report on Tuesday, July 30th. StockNews.com downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Eastman Chemical currently has an average rating of “Hold” and a consensus 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.