Eastman Chemical (NYSE:EMN - Get Free Report) CEO Mark J. Costa sold 102,390 shares of the business's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the transaction, the chief executive officer now owns 395,699 shares of the company's stock, valued at $39,878,545.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Eastman Chemical Trading Up 0.1 %
NYSE:EMN opened at $100.76 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.39 and a quick ratio of 0.71. The firm has a market capitalization of $11.85 billion, a P/E ratio of 12.98, a PEG ratio of 1.06 and a beta of 1.54. The company's 50-day simple moving average is $95.83 and its 200 day simple moving average is $87.85. Eastman Chemical has a one year low of $68.89 and a one year high of $102.71.
Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. Eastman Chemical's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. As a group, analysts forecast that Eastman Chemical will post 7.75 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 17th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical's dividend payout ratio is currently 41.75%.
Institutional Investors Weigh In On Eastman Chemical
Several large investors have recently bought and sold shares of EMN. Quadrant Capital Group LLC raised its holdings in shares of Eastman Chemical by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company's stock valued at $147,000 after purchasing an additional 128 shares during the last quarter. Tucker Asset Management LLC increased its position in Eastman Chemical by 19.5% during the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company's stock valued at $67,000 after acquiring an additional 142 shares during the last quarter. Empirical Finance LLC boosted its position in Eastman Chemical by 3.3% in the first quarter. Empirical Finance LLC now owns 4,525 shares of the basic materials company's stock worth $453,000 after purchasing an additional 145 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Eastman Chemical by 4.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company's stock valued at $310,000 after purchasing an additional 151 shares during the last quarter. Finally, Montag A & Associates Inc. grew its position in Eastman Chemical by 1.6% during the first quarter. Montag A & Associates Inc. now owns 10,562 shares of the basic materials company's stock valued at $1,067,000 after buying an additional 162 shares during the period. 83.65% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on EMN shares. Wells Fargo & Company boosted their price objective on Eastman Chemical from $89.00 to $100.00 and gave the stock an "equal weight" rating in a report on Thursday, April 11th. Citigroup increased their target price on Eastman Chemical from $95.00 to $114.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. KeyCorp raised their price objective on Eastman Chemical from $101.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. Bank of America lowered their price objective on shares of Eastman Chemical from $113.00 to $112.00 and set a "buy" rating for the company in a report on Monday, April 29th. Finally, Piper Sandler upped their price target on shares of Eastman Chemical from $90.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, April 30th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $104.18.
View Our Latest Stock Analysis on Eastman Chemical
Eastman Chemical Company Profile
(
Get Free Report)
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.
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