Eastman Chemical Company (EMN) has been under a strong bear grip, hence the stock is down -1.51% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.2% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.81% in the last 1 week, and is up 5.15% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Eastman Chemical Company (NYSE:EMN): The stock opened at $71.94 on Friday but the bulls could not build on the opening and the stock topped out at $72.50 for the day. The stock traded down to $71.53 during the day, due to lack of any buying support eventually closed down at $71.93 with a loss of -0.12% for the day. The stock had closed at $72.02 on the previous day. The total traded volume was 1,075,538 shares.
The stock has recorded a 20-day Moving Average of 3.88% and the 50-Day Moving Average is 0.75%. Eastman Chemical Co. has dropped 5.43% during the last 3-month period . Year-to-Date the stock performance stands at 7.94%.
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.