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

Eastman Chemical (NYSE:EMN) SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eastman Chemical Stock Down 2.0 %

Shares of EMN stock opened at $101.47 on Friday. The company’s fifty day simple moving average is $105.89 and its two-hundred day simple moving average is $101.20. Eastman Chemical has a 52 week low of $75.83 and a 52 week high of $114.50. The stock has a market cap of $11.76 billion, a P/E ratio of 13.58, a PEG ratio of 0.79 and a beta of 1.44. The company has a quick ratio of 0.71, 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 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 company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the company earned $1.47 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Analysts predict that Eastman Chemical will post 7.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price target for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Barclays lifted their target price 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. Finally, Wells Fargo & Company reduced their price target on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of “Hold” and a consensus target price of $111.50.

Institutional Investors Weigh In On Eastman Chemical

Several large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in shares of Eastman Chemical by 649.8% in the 1st quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock valued at $452,139,000 after purchasing an additional 3,909,740 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Eastman Chemical by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,280,699 shares of the basic materials company’s stock valued at $223,435,000 after acquiring an additional 198,645 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Eastman Chemical by 1.8% in the second quarter. Earnest Partners LLC now owns 2,240,013 shares of the basic materials company’s stock valued at $219,454,000 after acquiring an additional 40,070 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Eastman Chemical by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,463 shares of the basic materials company’s stock worth $119,569,000 after acquiring an additional 7,847 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Eastman Chemical by 18.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,120,604 shares of the basic materials company’s stock worth $112,307,000 after purchasing an additional 171,945 shares during the period. 83.65% of the stock is owned by institutional investors.

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.