Damon Cary Warmack Sells 4,417 Shares of Eastman Chemical (EMN) Stock

Eastman Chemical (NYSE:EMN) insider Damon Cary Warmack sold 4,417 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $98.60, for a total value of $435,516.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Eastman Chemical (EMN) opened at $94.80 on Friday. Eastman Chemical has a 12 month low of $76.02 and a 12 month high of $104.08. The company has a market capitalization of $13,380.51, a price-to-earnings ratio of 9.37, a P/E/G ratio of 1.34 and a beta of 1.33. 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 released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $2.24 billion. During the same quarter last year, the business posted $1.51 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. analysts expect that Eastman Chemical will post 8.47 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balter Liquid Alternatives LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at about $115,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Eastman Chemical in the 3rd quarter valued at about $113,000. NuWave Investment Management LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at about $123,000. Vigilant Capital Management LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at about $126,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Eastman Chemical by 567.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,521 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 1,293 shares during the period. 82.30% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised Eastman Chemical from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research note on Tuesday, January 9th. KeyCorp reaffirmed a “buy” rating and set a $118.00 price objective (up previously from $108.00) on shares of Eastman Chemical in a research note on Monday, January 8th. UBS Group raised their price objective on Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Barclays raised their price objective on 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, Tudor Pickering assumed coverage on Eastman Chemical in a research note on Tuesday, November 14th. They set a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.73.

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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.

Insider Buying and Selling by Quarter for Eastman Chemical (NYSE:EMN)

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