Eastman Chemical Company (EMN) Dips 2.9% for October 01

Equities Staff  |

Among the S&P 500’s biggest fallers on Tuesday October 01 was Eastman Chemical Company (EMN). The stock experienced a 2.9% decline to $71.69 with 780,043 shares changing hands.

Eastman Chemical Company started at an opening price of 74.22 and hit a high of $74.85 and a low of $71.52. Ultimately, the stock took a hit and finished the day at $2.14 per share. Eastman Chemical Company trades an average of n/a shares a day out of a total 136.99 million shares outstanding. The current moving averages are a 50-day SMA of $n/a and a 200-day SMA of $n/a. Eastman Chemical Company hit a high of $98.38 and a low of $61.22 over the last year.

Established in 1920 to produce chemicals for Eastman Kodak, Eastman Chemical has grown into a global producer of chemicals, plastics, and fibers with manufacturing sites in seven countries. The company generates the majority of its sales outside of the United States, with a strong presence in Asian markets. During the past several years, Eastman has sold noncore businesses, choosing to focus on higher-margin specialty product offerings.

With its headquarters located in Kingsport, TN, Eastman Chemical Company employs 14,500 people. After today’s trading, the company’s market cap has fallen to $9.82 billion, a P/S of n/a, a P/B of 1.67, and a P/FCF of n/a.

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For all the attention paid to the Dow Jones Industrial Average (DJIA), it’s the S&P 500 that’s relied on by insiders and institutional investors. It represents the industry standard for American large-cap indices.

The Dow is made up of just 30 stocks to the S&P 500’s 500, and it uses an unreliable and outdated price-weighting system where the S&P 500 relies on market cap in weighting its returns. This is why its long-term returns is a much more reliable gauge for the performance of large- and mega-cap stocks over time.

To get more information on Eastman Chemical Company and to follow the company’s latest updates, you can visit the company’s profile page here: EMN’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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