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Adrian James Holt, Senior Vice President and Chief Human Resources Officer at Eastman Chemical Co. (NYSE:EMN), recently sold shares in the company, according to a Form 4 filing with the Securities and Exchange Commission. On February 20, Holt sold 2,037 shares of Eastman Chemical’s common stock at a price of $101.18 per share, resulting in total proceeds of $206,103. Following this sale, Holt no longer holds any shares of the company’s common stock. The transaction comes at a time when Eastman Chemical shows strong financial health, according to InvestingPro data, with the stock trading near its Fair Value and offering a 3.4% dividend yield. The company has maintained dividend payments for 32 consecutive years.
Additionally, Holt acquired 16,773 employee stock options and 3,204 restricted stock units on the same date. The employee stock options were granted at an exercise price of $100.56 and will become exercisable in three equal installments starting February 20, 2026. The restricted stock units are set to vest on February 20, 2028, contingent upon continued employment with the company. While this individual sale occurred, InvestingPro analysis reveals that management has been actively buying back shares, demonstrating confidence in the company’s future. For deeper insights into EMN’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Eastman Chemical Company reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.87, which exceeded analysts’ expectations of $1.61. However, the company’s revenue slightly missed forecasts, coming in at $2.25 billion against an anticipated $2.28 billion. The company also announced the issuance of $250 million in new notes, which are intended for general corporate purposes, including working capital and debt repayment. KeyBanc Capital Markets expressed a positive outlook for Eastman Chemical by raising the stock’s price target from $121 to $128, citing strong fourth-quarter performance and expectations for the company’s 2025 guidance. The analysts at KeyBanc anticipate that Eastman Chemical’s EPS will reach $8.38, supported by internal initiatives and volume stabilization in key markets. Despite the revenue miss, Eastman Chemical’s strategic initiatives, such as cost reductions and circular economy projects, have bolstered its competitive position. The company has increased its dividend for the 15th consecutive year, demonstrating confidence in its financial health. These developments reflect Eastman Chemical’s ongoing efforts to manage its capital structure and support its business operations.
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