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Eastman Chemical Company (EMN): Today's Featured Chemicals Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Eastman Chemical Company ( EMN) pushed the Chemicals industry lower today making it today's featured Chemicals laggard. The industry as a whole closed the day up 0.6%. By the end of trading, Eastman Chemical Company fell $1.06 (-1.5%) to $69.73 on average volume. Throughout the day, 1.7 million shares of Eastman Chemical Company exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in price between $69.72-$71.22 after having opened the day at $70.78 as compared to the previous trading day's close of $70.79. Other companies within the Chemicals industry that declined today were: Kraton Performance Polymers ( KRA), down 6.4%, American Vanguard Corporation ( AVD), down 3.5%, American Pacific Corporation ( APFC), down 3.4%, and Kronos Worldwide ( KRO), down 3.4%.

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Eastman Chemical Company, a chemical company, engages in the manufacture and sale of chemicals, plastics, and fibers in the United States and internationally. Eastman Chemical Company has a market cap of $10.52 billion and is part of the basic materials sector. The company has a P/E ratio of 18, above the S&P 500 P/E ratio of 17.7. Shares are up 4% year to date as of the close of trading on Wednesday. Currently there are 10 analysts that rate Eastman Chemical Company a buy, no analysts rate it a sell, and four rate it a hold.

TheStreet Ratings rates Eastman Chemical Company as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, Lightbridge ( LTBR), up 11.1%, Pacific Ethanol ( PEIX), up 8.8%, Gulf Resources ( GURE), up 8.3%, and BioFuel Energy Corporation ( BIOF), up 7.9%, were all gainers within the chemicals industry with Huntsman Corporation ( HUN) being today's featured chemicals industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the chemicals industry could consider Materials Select Sector SPDR ( XLB) while those bearish on the chemicals industry could consider ProShares Short Basic Materials Fd ( SBM).

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