Julie A. Mcalindon Sells 4,456 Shares of Eastman Chemical (NYSE:EMN) Stock

Eastman Chemical (NYSE:EMN) SVP Julie A. Mcalindon sold 4,456 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. This represents a 50.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $104.23 on Friday. The firm has a market capitalization of $12.08 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company’s 50-day moving average is $106.37 and its 200 day moving average is $101.67. Eastman Chemical has a 1-year low of $80.71 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN) last announced 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. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. Eastman Chemical’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 EPS. Research analysts forecast that Eastman Chemical will post 7.63 EPS for the current year.

Hedge Funds Weigh In On Eastman Chemical

Institutional investors have recently modified their holdings of the stock. Dakota Wealth Management increased its holdings in Eastman Chemical by 13.5% during the 2nd quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company’s stock worth $2,183,000 after purchasing an additional 2,655 shares during the period. KBC Group NV grew its position in shares of Eastman Chemical by 21.8% during the 3rd quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock worth $12,383,000 after buying an additional 19,809 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Eastman Chemical by 6.8% during the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock valued at $16,588,000 after buying an additional 9,447 shares during the period. Cetera Advisors LLC raised its holdings in shares of Eastman Chemical by 119.7% in the first quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company’s stock valued at $1,011,000 after acquiring an additional 5,496 shares in the last quarter. Finally, Comerica Bank lifted its stake in Eastman Chemical by 18.5% in the first quarter. Comerica Bank now owns 39,306 shares of the basic materials company’s stock worth $3,939,000 after acquiring an additional 6,126 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EMN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Mizuho lifted their price objective on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America cut 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 research report on Wednesday, October 16th. StockNews.com downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Hold” and an average price target of $112.86.

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.