Prior to the sale, Holt acquired 4,869 shares through the payout of restricted stock units, which vested on December 2, 2024. A portion of these shares, totaling 1,186, were withheld to satisfy tax liabilities, valued at $104.27 per share, amounting to $123,664. Following these transactions, Holt no longer holds any shares of Eastman Chemical common stock directly. While this insider sale occurred, InvestingPro analysis shows management has been actively buying back shares, and the stock trades at an attractive P/E ratio of 13.6x. Discover more insights and 8 additional ProTips with an InvestingPro subscription. While this insider sale occurred, InvestingPro analysis shows management has been actively buying back shares, and the stock trades at an attractive P/E ratio of 13.6x. Discover more insights and 8 additional ProTips with an InvestingPro subscription.
Prior to the sale, Holt acquired 4,869 shares through the payout of restricted stock units, which vested on December 2, 2024. A portion of these shares, totaling 1,186, were withheld to satisfy tax liabilities, valued at $104.27 per share, amounting to $123,664. Following these transactions, Holt no longer holds any shares of Eastman Chemical common stock directly.
In other recent news, Eastman Chemical Company (NYSE:EMN) has reported its third-quarter earnings for 2024, achieving mid-single-digit growth in volume mix despite economic challenges. The company's strategic approach includes cost management and the introduction of innovative products, with a focus on improved performance in 2025. Additionally, Eastman Chemical has announced the approval of a new Texas facility, supported by DOE funding and Pepsi as an anchor customer, reinforcing its growth strategy.
Mizuho (NYSE:MFG) Securities has reaffirmed a Neutral rating on Eastman Chemical, with a modest increase in the price target to $117.00, up from the previous target of $113.00. This adjustment follows a recent tour of Eastman Chemical's first commercial scale PET chemical recycling plant, which processes mixed waste plastic into chemicals for various end-products. The firm's analysis suggests a significant barrier to entry for potential competitors due to the high level of complexity in Eastman Chemical's operations.
CEO Mark Costa has expressed optimism about market stabilization and the potential impact of interest rates on consumer affordability, fostering recovery and demand stability. CFO Willie MacLean indicated operational stability in 2025 would bring further operating leverage. These recent developments provide investors with an updated perspective on Eastman Chemical's performance and future strategies.
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