Eastman Chemical Company (EMN) Moves Higher on Volume Spike for September 10

Equities Staff  |

Eastman Chemical Company (EMN) traded on unusually high volume on Sep. 10, as the stock gained 5.49% to close at $74.33. On the day, Eastman Chemical Company saw 1.92 million shares trade hands on 23,793 trades. Considering that the stock averages only a daily volume of 1.15 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $100.51 and $61.22 over the last 52-weeks, its 50-day SMA is now $71.43, and its 200-day SMA $75.07. Eastman Chemical Company has a P/B ratio of 1.74. It also has a P/E ratio of 9.6.

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.

Headquartered in Kingsport, TN, Eastman Chemical Company has 14,500 employees and is currently under the leadership of CEO Mark J. Costa.

For a complete fundamental analysis analysis of Eastman Chemical Company, check out Equities.com’s Stock Valuation Analysis report for EMN.

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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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