Eastman Chemical Sees Unusually High Options Volume (NYSE:EMN)

Eastman Chemical Company (NYSE:EMN) saw some unusual options trading on Tuesday. Investors bought 16,522 call options on the stock. This represents an increase of approximately 974% compared to the typical daily volume of 1,539 call options.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EMN shares. Royal Bank Of Canada set a $71.00 target price on shares of Eastman Chemical in a research note on Tuesday, October 14th. Citigroup upped their price target on shares of Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. KeyCorp set a $79.00 price target on Eastman Chemical and gave the company an “overweight” rating in a research report on Monday, August 4th. Evercore ISI cut their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Finally, Bank of America decreased their target price on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.62.

Eastman Chemical Stock Up 1.2%

EMN opened at $61.35 on Thursday. The company has a market capitalization of $7.00 billion, a P/E ratio of 8.62, a P/E/G ratio of 6.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The firm’s fifty day moving average price is $61.37 and its two-hundred day moving average price is $69.64. Eastman Chemical has a fifty-two week low of $56.11 and a fifty-two week high of $106.14.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.Eastman Chemical’s revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Institutional Investors Weigh In On Eastman Chemical

Several large investors have recently modified their holdings of EMN. MUFG Securities EMEA plc bought a new position in shares of Eastman Chemical during the 2nd quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB boosted its position in Eastman Chemical by 65.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock valued at $28,000 after buying an additional 146 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Eastman Chemical in the second quarter valued at about $32,000. Loomis Sayles & Co. L P bought a new stake in Eastman Chemical during the second quarter worth about $33,000. Finally, Rothschild Investment LLC raised its stake in shares of Eastman Chemical by 65.6% in the third quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 229 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

About Eastman Chemical

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.