Eastman Chemical Co (NYSE: EMN) is 21.85% higher on its value in year-to-date trading and has touched a low of $68.89 and a high of $114.50 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 $108.72 in the last trading session, with the day’s gains setting it 0.73%.
Currently trading at $109.45, the stock is -0.42% and 5.49% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.61 million and changing 0.67% at the moment leaves the stock 13.11% off its SMA200. EMN registered 47.05% gain for a year compared to 6-month gain of 13.99%. The firm has a 50-day simple moving average (SMA 50) of $103.755 and a 200-day simple moving average (SMA200) of $96.76755.
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The stock witnessed a 2.89% loss in the last 1 month and extending the period to 3 months gives it a 12.66%, and is -0.60% down 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 1.53% over the week and 1.69% over the month.
Eastman Chemical Co (EMN) has around 14000 employees, a market worth around $12.79B and $9.14B in sales. Current P/E ratio is 14.71 and Fwd P/E is 12.20. Profit margin for the company is 9.66%. Distance from 52-week low is 58.88% and -4.41% from its 52-week high. The company has generated returns on investments over the last 12 months (8.86%).
The EPS is expected to grow by 20.16% this year
1008.0 institutions hold shares in Eastman Chemical Co (EMN), with institutional investors hold 89.04% of the company’s shares. The shares outstanding are 117.29M, and float is at 116.12M with Short Float at 1.67%. Institutions hold 88.45% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 14.82 million shares valued at $1.45 billion. The investor’s holdings represent 12.6265 of the EMN Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 8.42 million shares valued at $824.59 million to account for 7.1693 of the shares outstanding. The other top investors are STATE STREET CORP which holds 5.21 million shares representing 4.4417 and valued at over $514.73 million, while CAPITAL RESEARCH GLOBAL INVESTORS holds 4.2181 of the shares totaling 4.95 million with a market value of $485.16 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 1,975 shares of the company’s common stock on Jun 03 ’24 at a price of $99.22 per share for a total of $0.2 million. Following the sale, the insider now owns 0.0 shares.
Eastman Chemical Co disclosed in a document filed with the SEC on May 15 ’24 that LICH BRAD A (EVP & CCO) sold a total of 23,028 shares of the company’s common stock. The trade occurred on May 15 ’24 and was made at $100.51 per share for $2.31 million. Following the transaction, the insider now directly holds 68793.0 shares of the EMN stock.
Still, SEC filings show that on May 14 ’24, RAISBECK DAVID W (Director) disposed off 13,500 shares at an average price of $100.50 for $1.36 million. The insider now directly holds 29,357 shares of Eastman Chemical Co (EMN).
