Eastman Chemical Co (NYSE: EMN) is 4.29% higher on its value in year-to-date trading and has touched a low of $68.89 and a high of $93.46 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The EMN stock was last observed hovering at around $93.07 in the last trading session, with the day’s gains setting it 0.6%.
Currently trading at $93.67, the stock is 5.25% and 8.21% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.49 million and changing 0.64% at the moment leaves the stock 13.11% off its SMA200. EMN registered 15.46% gain for a year compared to 6-month gain of 19.01%. The firm has a 50-day simple moving average (SMA 50) of $1.66 and a 200-day simple moving average (SMA200) of $8.45.
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The stock witnessed a 10.84% loss in the last 1 month and extending the period to 3 months gives it a 6.65%, and is 0.70% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.80% over the week and 1.73% over the month.
Eastman Chemical Co (EMN) has around 14000 employees, a market worth around $10.99B and $9.20B in sales. Current P/E ratio is 12.49 and Fwd P/E is 10.50. Profit margin for the company is 9.72%. Distance from 52-week low is 35.97% and 0.23% from its 52-week high. The company has generated returns on investments over the last 12 months (9.05%).
Eastman Chemical Co quarterly earnings per share for the current quarter are estimated at $1.41 with sales reaching $2.28B over the same period.The EPS is expected to grow by 19.65% this year, but quarterly earnings will post 2.10% year-over-year. Quarterly sales are estimated to shrink -5.40% in year-over-year returns.
955 institutions hold shares in Eastman Chemical Co (EMN), with institutional investors hold 87.14% of the company’s shares. The shares outstanding are 117.29M, and float is at 116.55M with Short Float at 1.25%. Institutions hold 86.54% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 15.01 million shares valued at $1.26 billion. The investor’s holdings represent 12.66% of the EMN Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 8.53 million shares valued at $714.4 million to account for 7.20% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 6.67 million shares representing 5.63% and valued at over $558.35 million, while State Street Corporation holds 4.21% of the shares totaling 4.99 million with a market value of $417.52 million.
Eastman Chemical Co (EMN) Insider Activity
The most recent transaction is an insider sale by Holt Adrian James, the company’s SVP, Chf HR Ofcr. SEC filings show that Holt Adrian James sold 4,735 shares of the company’s common stock on Mar 06 ’24 at a price of $87.75 per share for a total of $0.42 million. Following the sale, the insider now owns 0.0 shares.
Eastman Chemical Co disclosed in a document filed with the SEC on Mar 01 ’24 that Costa Mark J (CEO & Board Chair) sold a total of 12,000 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $87.60 per share for $1.05 million. Following the transaction, the insider now directly holds 0.4 million shares of the EMN stock.
Still, SEC filings show that on Aug 01 ’23, Holt Adrian James (SVP, Chf HR Ofcr) disposed off 1,935 shares at an average price of $85.64 for $0.17 million. The insider now directly holds 0 shares of Eastman Chemical Co (EMN).
