Eastman Chemical Co. (NYSE:EMN)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $65.98, but opened at $66.08. Eastman Chemical shares last traded at $67.23, with a volume of 912,217 shares trading hands.

A number of brokerages have recently commented on EMN. Susquehanna began coverage on shares of Eastman Chemical in a research note on Friday, July 1st. They issued a “positive” rating and a $90.00 target price on the stock. Royal Bank Of Canada cut their target price on shares of Eastman Chemical from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday, June 27th. Morgan Stanley reissued a “hold” rating on shares of Eastman Chemical in a research note on Thursday, June 16th. Jefferies Group raised shares of Eastman Chemical to a “buy” rating and set a $88.00 target price on the stock in a research note on Saturday, June 4th. Finally, Zacks Investment Research raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $79.85.

The company’s 50-day moving average is $71.20 and its 200-day moving average is $69.44. The firm has a market capitalization of $10.13 billion and a price-to-earnings ratio of 11.04.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Friday, April 29th. The company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.18. During the same period in the prior year, the firm earned $1.84 earnings per share. The business earned $2.24 billion during the quarter, compared to the consensus estimate of $2.31 billion. The business’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Eastman Chemical Co. will post $6.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, June 13th.

In related news, CAO Scott V. King sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $75.48, for a total transaction of $905,760.00. Following the completion of the sale, the chief accounting officer now directly owns 25,852 shares of the company’s stock, valued at approximately $1,951,308.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark J. Costa sold 38,400 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $75.16, for a total transaction of $2,886,144.00. Following the sale, the chief executive officer now directly owns 185,730 shares of the company’s stock, valued at $13,959,466.80. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of EMN. OppenheimerFunds Inc. increased its stake in Eastman Chemical by 30.0% in the fourth quarter. OppenheimerFunds Inc. now owns 1,715,081 shares of the company’s stock valued at $115,787,000 after buying an additional 396,100 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Eastman Chemical by 3,166.5% in the fourth quarter. Teacher Retirement System of Texas now owns 254,261 shares of the company’s stock valued at $17,165,000 after buying an additional 246,477 shares in the last quarter. New York State Common Retirement Fund increased its stake in Eastman Chemical by 5.9% in the fourth quarter. New York State Common Retirement Fund now owns 756,058 shares of the company’s stock valued at $51,041,000 after buying an additional 42,049 shares in the last quarter. Comerica Bank increased its stake in Eastman Chemical by 3.1% in the fourth quarter. Comerica Bank now owns 78,849 shares of the company’s stock valued at $5,020,000 after buying an additional 2,377 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Eastman Chemical by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 50,186 shares of the company’s stock valued at $3,388,000 after buying an additional 3,239 shares in the last quarter.

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI).

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