Eastman Chemical (EMN) CEO Sells $5,404,300.00 in Stock
Eastman Chemical (NYSE:EMN) CEO Mark J. Costa sold 55,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $98.26, for a total value of $5,404,300.00. Following the sale, the chief executive officer now directly owns 212,991 shares of the company’s stock, valued at $20,928,495.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Eastman Chemical (NYSE:EMN) opened at $97.90 on Wednesday. The firm has a market capitalization of $14,070.00, a price-to-earnings ratio of 9.67, a P/E/G ratio of 1.36 and a beta of 1.33. Eastman Chemical has a 52-week low of $76.02 and a 52-week high of $104.08. The company has a current ratio of 1.83, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24.
Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.56. Eastman Chemical had a return on equity of 22.67% and a net margin of 15.44%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. Eastman Chemical’s quarterly revenue was up 8.0% on a year-over-year basis. equities analysts predict that Eastman Chemical will post 8.47 EPS for the current fiscal year.
Several brokerages have recently commented on EMN. Cowen reaffirmed an “outperform” rating and set a $115.00 target price (up from $106.00) on shares of Eastman Chemical in a report on Wednesday, February 7th. Barclays upped their target price on Eastman Chemical from $100.00 to $108.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Zacks Investment Research downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. SunTrust Banks upped their target price on Eastman Chemical to $105.00 and gave the company a “hold” rating in a report on Monday, February 5th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Eastman Chemical in a report on Monday, October 30th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $101.73.
About Eastman Chemical
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.
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