Eastman Chemical (EMN) Insider Lucian Boldea Sells 3,325 Shares

Eastman Chemical (NYSE:EMN) insider Lucian Boldea sold 3,325 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $95.00, for a total transaction of $315,875.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of Eastman Chemical (NYSE:EMN) traded down $0.39 during mid-day trading on Tuesday, reaching $97.13. 380,761 shares of the company’s stock traded hands, compared to its average volume of 1,382,302. The stock has a market cap of $14,020.00, a PE ratio of 9.58, a P/E/G ratio of 1.36 and a beta of 1.33. Eastman Chemical has a 1-year low of $76.02 and a 1-year high of $104.08. 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 quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.06 by $0.56. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Eastman Chemical had a net margin of 15.44% and a return on equity of 22.67%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. research analysts forecast that Eastman Chemical will post 8.47 EPS for the current fiscal year.

EMN has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Eastman Chemical from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Cowen restated an “outperform” rating and set a $106.00 target price (up previously from $92.00) on shares of Eastman Chemical in a research note on Friday, December 8th. KeyCorp restated a “buy” rating and set a $118.00 target price (up previously from $108.00) on shares of Eastman Chemical in a research note on Monday, January 8th. Finally, Tudor Pickering initiated coverage on shares of Eastman Chemical in a research note on Tuesday, November 14th. They set a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.73.

A number of hedge funds have recently made changes to their positions in EMN. Victory Capital Management Inc. lifted its stake in Eastman Chemical by 6,003.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,700,749 shares of the basic materials company’s stock worth $157,557,000 after purchasing an additional 1,672,883 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Eastman Chemical by 255.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,581,835 shares of the basic materials company’s stock worth $146,541,000 after purchasing an additional 1,137,278 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Eastman Chemical in the 3rd quarter worth $42,235,000. BlackRock Inc. raised its position in shares of Eastman Chemical by 2.7% during the 4th quarter. BlackRock Inc. now owns 12,147,844 shares of the basic materials company’s stock valued at $1,125,377,000 after buying an additional 320,786 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter valued at about $29,613,000. Institutional investors and hedge funds own 84.13% of the company’s stock.

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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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