Stephen Glenn Crawford Sells 10,504 Shares of Eastman Chemical (NYSE:EMN) Stock

Eastman Chemical (NYSE:EMN) EVP Stephen Glenn Crawford sold 10,504 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the completion of the transaction, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $104.23 on Friday. The stock has a fifty day moving average of $106.37 and a 200 day moving average of $101.67. Eastman Chemical has a 52 week low of $80.71 and a 52 week high of $114.50. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.81 and a beta of 1.44. The company has a quick ratio of 0.78, 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, topping 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 quarter last year, the firm posted $1.47 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Eastman Chemical will post 7.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $110.00 to $125.00 in a research report on Tuesday. StockNews.com cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $105.00 price target on shares of Eastman Chemical in a research report on Friday, November 22nd. Finally, Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price target for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical presently has an average rating of “Hold” and an average price target of $112.86.

Institutional Trading of Eastman Chemical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Eastman Chemical by 4.3% in the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock worth $262,000 after acquiring an additional 96 shares during the period. V Square Quantitative Management LLC raised its holdings in Eastman Chemical by 3.8% in the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 98 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after purchasing an additional 111 shares in the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in Eastman Chemical by 3.3% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock worth $384,000 after purchasing an additional 111 shares in the last quarter. Finally, Prosperity Consulting Group LLC raised its holdings in Eastman Chemical by 4.8% in the second quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

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.