Eastman Chemical Co. (NYSE:EMN) shares saw unusually-high trading volume on Friday . Approximately 2,470,243 shares traded hands during mid-day trading, an increase of 67% from the previous session’s volume of 1,477,241 shares.The stock last traded at $65.03 and had previously closed at $70.37.

EMN has been the topic of a number of recent analyst reports. Zacks Investment Research raised Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Royal Bank Of Canada boosted their price objective on Eastman Chemical from $83.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, May 2nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Eastman Chemical in a research note on Friday. Credit Agricole SA downgraded Eastman Chemical from a “buy” rating to an “underperform” rating in a research note on Monday, May 2nd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $88.00 price target on shares of Eastman Chemical in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $79.69.

The company has a market capitalization of $9.64 billion and a PE ratio of 10.99. The company has a 50 day moving average price of $70.06 and a 200 day moving average price of $69.82.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by $0.05. The firm earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. The company’s revenue was down 9.3% on a year-over-year basis. On average, equities research analysts predict that Eastman Chemical Co. will post $6.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, June 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.82%.

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

Other hedge funds have bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Eastman Chemical by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 12,188,084 shares of the company’s stock valued at $822,816,000 after buying an additional 173,987 shares during the last quarter. GAM Holding AG boosted its stake in Eastman Chemical by 1.6% in the fourth quarter. GAM Holding AG now owns 34,570 shares of the company’s stock valued at $2,334,000 after buying an additional 541 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in Eastman Chemical by 0.8% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 226,483 shares of the company’s stock valued at $15,356,000 after buying an additional 1,860 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Eastman Chemical by 2.9% in the fourth quarter. Gulf International Bank UK Ltd now owns 44,143 shares of the company’s stock valued at $2,980,000 after buying an additional 1,250 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Eastman Chemical by 13.6% in the fourth quarter. Bank of Montreal Can now owns 60,652 shares of the company’s stock valued at $4,095,000 after buying an additional 7,243 shares during 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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