Eastman Chemical Company (NYSE:EMN) has tumbled 2.07% during the past week and has dropped 2.58% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.9%. Eastman Chemical Company (NYSE:EMN) has underperformed the index by 3.47% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Eastman Chemical Company (NYSE:EMN): The stock opened at $71.78 on Friday but the bulls could not build on the opening and the stock topped out at $72.51 for the day. The stock traded down to $71.14 during the day, due to lack of any buying support eventually closed down at $71.39 with a loss of -0.43% for the day. The stock had closed at $71.70 on the previous day. The total traded volume was 2,480,940 shares.
The company shares have dropped -14.03% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $83.90 and the one year low was seen on Jan 29, 2016. The 50-Day Moving Average price is $73.91 and the 200 Day Moving Average price is recorded at $69.51.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Costa Mark J, director officer (Chief Executive Officer) of Eastman Chemical Co, had unloaded 38,400 shares at an average price of $75.21 in a transaction dated on May 9, 2016. The total value of the transaction was worth $2,888,064.
Many analysts have stated their opinion on the company shares. CLSA downgrades its rating on Eastman Chemical Company (NYSE:EMN). Analysts at the CLSA have a current rating of Underperform on the shares. The shares were previously rated Buy. The rating by the firm was issued on May 2, 2016. Currently the company Insiders own 1.1% of Eastman Chemical Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -22.41% . Institutional Investors own 85.19% of Eastman Chemical Company shares. During last six month period, the net percent change held by insiders has seen a change of -22.41%.
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). The Company manufactures chemicals for products in the coatings and tires industries in transportation, building and construction, durable goods, and consumables markets in the Additives & Functional Products segment. The Companys A&P segment focuses on producing intermediate chemicals. The Companys the AM segment produces and markets specialty copolyesters, cellulose esters, interlayers. In the Fibers segment, Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Companys SFI segment offers products, such as acetyl chemical intermediates, olefin derivatives, specialty fluids, and alkylamines.