Eastman Chemical (EMN) CEO Mark J. Costa Sells 55,000 Shares

Eastman Chemical (NYSE:EMN) CEO Mark J. Costa sold 55,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.26, for a total transaction of $5,404,300.00. Following the transaction, the chief executive officer now directly owns 212,991 shares in the company, valued at approximately $20,928,495.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Eastman Chemical (EMN) opened at $94.80 on Monday. Eastman Chemical has a one year low of $76.02 and a one year high of $104.08. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The company has a market cap of $13,556.40, a price-to-earnings ratio of 12.44, a PEG ratio of 1.36 and a beta of 1.33.

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

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in shares of Eastman Chemical by 38.6% in 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 acquiring an additional 7,199 shares during the period. Private Advisor Group LLC raised its stake in shares of Eastman Chemical by 106.7% in the 3rd quarter. Private Advisor Group LLC now owns 8,697 shares of the basic materials company’s stock valued at $783,000 after acquiring an additional 4,490 shares during the period. Personal Capital Advisors Corp raised its stake in shares of Eastman Chemical by 3.1% in 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 acquiring an additional 6,675 shares during the period. Aperio Group LLC raised its stake in shares of 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 acquiring an additional 5,907 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of 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 acquiring an additional 5,612 shares during the period. 84.13% of the stock is currently owned by institutional investors and hedge funds.

EMN has been the topic of a number of recent analyst reports. Cowen reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $106.00) on shares of Eastman Chemical in a research note on Wednesday, February 7th. Zacks Investment Research downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. SunTrust Banks increased their price target on shares of Eastman Chemical to $105.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Barclays increased their price target on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Finally, KeyCorp reaffirmed a “buy” rating and set a $118.00 price target (up previously from $108.00) on shares of Eastman Chemical in a research note on Monday, January 8th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Eastman Chemical has a consensus rating of “Hold” and an average 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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