Is Eastman Chemical Company a Buy? The Stock Had Bullish Options Activity Today

 Is Eastman Chemical Company a Buy? The Stock Had Bullish Options Activity Today

In today’s session Eastman Chemical Company (EMN) registered an unusually high (1,500) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious EMN increase. With 1,500 contracts traded and 6924 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: EMN161216C00075000 closed last at: $1.85 or 26% down. About 41,201 shares traded hands. Eastman Chemical Company (NYSE:EMN) has risen 0.93% since April 14, 2016 and is uptrending. It has underperformed by 3.76% the S&P500.

Eastman Chemical Company (NYSE:EMN) Ratings Coverage

Out of 12 analysts covering Eastman Chemical Company (NYSE:EMN), 8 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 67% are positive. $90 is the highest target while $73 is the lowest. The $81.70 average target is 9.93% above today’s ($74.32) stock price. Eastman Chemical Company has been the topic of 24 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, September 7 by Citigroup. The rating was maintained by Deutsche Bank with “” on Thursday, September 3. On Wednesday, October 14 the stock rating was initiated by RBC Capital Markets with “Outperform”. The stock of Eastman Chemical Company (NYSE:EMN) has “Buy” rating given on Monday, May 2 by Jefferies. As per Monday, November 2, the company rating was maintained by RBC Capital Markets. Susquehanna initiated the stock with “Positive” rating in Friday, July 1 report. As per Thursday, August 20, the company rating was maintained by Deutsche Bank. The stock of Eastman Chemical Company (NYSE:EMN) earned “Buy” rating by Citigroup on Tuesday, January 5. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Thursday, March 17. The firm has “Buy” rating given on Monday, April 18 by Citigroup.

According to Zacks Investment Research, “Eastman Chemical Company is a global chemical company with a broad portfolio of chemical, plastic, and fiber products. The company manufactures and sells chemicals and specialty polymers supplied to the inks, coatings, adhesives, sealants, and textile industries; fine chemicals; performance chemicals and intermediates; specialty plastics; polyester plastics such as polyethylene terephthalate sold under the trademark EASTAPAK polymers; and fibers.”

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.25, from 0.99 in 2016Q1. The ratio is positive, as 42 funds sold all Eastman Chemical Company shares owned while 163 reduced positions. 52 funds bought stakes while 203 increased positions. They now own 123.13 million shares or 2.38% less from 126.13 million shares in 2016Q1.
Exane Derivatives accumulated 5 shares or 0% of the stock. Advsr Asset Mgmt has invested 0% of its portfolio in Eastman Chemical Company (NYSE:EMN). Princeton Port Strategies Gru reported 30,521 shares or 0.67% of all its holdings. Gideon Cap Inc has invested 0.15% of its portfolio in Eastman Chemical Company (NYSE:EMN). Blackrock Fund Advsrs has 2.43 million shares for 0.04% of their US portfolio. Mufg Americas Hldgs Corp has 0.01% invested in the company for 2,336 shares. M&T Bancshares Corporation last reported 0.01% of its portfolio in the stock. Verition Fund Ltd Llc owns 20,425 shares or 0.18% of their US portfolio. Alyeska Investment Ltd Partnership last reported 337,012 shares in the company. Quantitative Invest Mgmt accumulated 0.15% or 48,300 shares. Canandaigua Retail Bank Co holds 15,717 shares or 0.3% of its portfolio. Leuthold Grp Inc Limited Company reported 58,054 shares or 0.42% of all its holdings. Moreover, Riggs Asset Managment has 0% invested in Eastman Chemical Company (NYSE:EMN) for 47 shares. Atlantic Group Ltd Liability Corporation accumulated 13,192 shares or 0.01% of the stock. Meeder Asset Management has 0.02% invested in the company for 3,419 shares.

Eastman Chemical Company is a specialty chemicals firm that produces a range of advanced materials, chemicals and fibers. The company has a market cap of $10.99 billion. The Firm operates through five divisions: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). It has a 12.83 P/E ratio. In the AFP segment, the Company makes chemicals for products in the coatings, tires, consumables, animal nutrition, crop protection and energy markets.

EMN Company Profile

Eastman Chemical Company (Eastman), incorporated on July 29, 1993, is a specialty chemicals firm that produces a range of materials, chemicals and fibers. The Firm operates through five divisions: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). The Firm has over 50 manufacturing sites and equity interests in approximately four manufacturing joint ventures in approximately 15 countries.

More news for Eastman Chemical Company (NYSE:EMN) were recently published by: Nasdaq.com, which released: “Eastman Chemical Company Announces Extension of Early Tender Date and Tender …” on November 15, 2016. Nasdaq.com‘s article titled: “Eastman Chemical Company Announces Cash Tender Offer for up to $400 Million in …” and published on October 31, 2016 is yet another important article.

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