Eastman Chemical (EMN) Insider Sells $315,875.00 in Stock

Eastman Chemical (NYSE:EMN) insider Lucian Boldea sold 3,325 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $95.00, for a total value of $315,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eastman Chemical (EMN) opened at $99.70 on Thursday. Eastman Chemical has a 52-week low of $76.02 and a 52-week high of $104.08. The stock has a market capitalization of $13,999.70, a P/E ratio of 9.85, a PEG ratio of 1.30 and a beta of 1.33. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 1.83.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.56. Eastman Chemical had a return on equity of 22.67% and a net margin of 15.44%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $1.51 EPS. The business’s revenue was up 8.0% on a year-over-year basis. analysts expect that Eastman Chemical will post 8.47 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Eastman Chemical by 38.6% during the 2nd quarter. Janus Henderson Group PLC now owns 25,832 shares of the basic materials company’s stock valued at $2,170,000 after buying an additional 7,199 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Eastman Chemical by 106.7% during the 3rd quarter. Private Advisor Group LLC now owns 8,697 shares of the basic materials company’s stock valued at $783,000 after buying an additional 4,490 shares in the last quarter. Personal Capital Advisors Corp lifted its position in shares of Eastman Chemical by 3.1% during the 3rd quarter. Personal Capital Advisors Corp now owns 221,806 shares of the basic materials company’s stock valued at $20,071,000 after buying an additional 6,675 shares in the last quarter. Aperio Group LLC raised its stake in Eastman Chemical by 6.7% in the 3rd quarter. Aperio Group LLC now owns 93,816 shares of the basic materials company’s stock valued at $8,489,000 after purchasing an additional 5,907 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Eastman Chemical by 3.3% in the 3rd quarter. Toronto Dominion Bank now owns 175,495 shares of the basic materials company’s stock valued at $15,878,000 after purchasing an additional 5,612 shares during the last quarter. Hedge funds and other institutional investors own 84.13% of the company’s stock.

EMN has been the topic of several recent research reports. Cowen restated an “outperform” rating and issued a $106.00 price objective (up previously from $92.00) on shares of Eastman Chemical in a research report on Friday, December 8th. JPMorgan Chase & Co. upped their price objective on Eastman Chemical from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. KeyCorp restated a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Eastman Chemical in a research report on Monday, October 30th. Zacks Investment Research lowered Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Tudor Pickering initiated coverage on Eastman Chemical in a research report on Tuesday, November 14th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $101.73.

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Eastman Chemical Company Profile

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

Insider Buying and Selling by Quarter for Eastman Chemical (NYSE:EMN)

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