Eastman Chemical’s SVP Michelle Caveness sells $112,990 in stock

Michelle H. Caveness, Senior Vice President and Chief Manufacturing Officer at Eastman Chemical Co. (NYSE:EMN), a company currently valued at $11.3 billion with a "GOOD" InvestingPro Financial Health score, recently executed a series of stock transactions involving the company’s common stock. On March 3, 2025, Caveness sold 1,147 shares of Eastman Chemical at a price of $98.51 per share, totaling approximately $112,990.

In addition to the sale, Caveness exercised stock options to acquire 1,147 shares at a price of $83.84 per share, resulting in a transaction valued at approximately $96,164. Following these transactions, Caveness holds 1,167 shares of Eastman Chemical directly. For comprehensive insights into EMN’s valuation and additional ProTips, including management’s aggressive share buyback program, investors can access the detailed Pro Research Report available on InvestingPro.

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 experienced a slight revenue shortfall, with actual figures at $2.25 billion compared to a forecast of $2.28 billion. Despite this, investor confidence remained strong, as evidenced by a positive market reaction. In terms of strategic financial moves, Eastman Chemical announced the issuance of $250 million in new notes, adding to the $500 million notes previously issued. The proceeds from this issuance are intended for general corporate purposes, including working capital and debt repayment.

KeyBanc Capital Markets recently raised Eastman Chemical’s stock price target from $121.00 to $128.00, maintaining an Overweight rating. Analysts at KeyBanc highlighted the company’s robust performance and effective margin management in challenging market conditions. They forecast Eastman Chemical’s EPS to reach $8.38, supported by internal initiatives and volume stabilization in key markets. Additionally, Eastman Chemical increased its dividend for the 15th consecutive year, showcasing its commitment to returning value to shareholders. These developments reflect Eastman Chemical’s ongoing efforts to strengthen its financial position and strategic direction.

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