4 Stocks Boosting The Basic Materials Sector Higher

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

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 79 points (0.5%) at 15,295 as of Wednesday, May 15, 2013, 12:45 PM ET. The NYSE advances/declines ratio sits at 1,703 issues advancing vs. 1,237 declining with 128 unchanged.

The Basic Materials sector currently sits down 0.41 versus the S&P 500, which is up 0.6%. Top gainers within the sector include YPF Sociedad Anonima ( YPF), up 8.2%, Valero Energy Corporation ( VLO), up 2.9%, Marathon Petroleum ( MPC), up 2.6%, Phillips 66 ( PSX), up 1.9% and Freeport-McMoRan Copper & Gold ( FCX), up 1.6%. On the negative front, top decliners within the sector include Barrick Gold Corporation ( ABX), down 3.27, Apache Corporation ( APA), down 1.42, Canadian Natural Resources ( CNQ), down 1.39, Schlumberger ( SLB), down 1.17 and Total ( TOT), down 0.87.

TheStreet Ratings group would like to highlight 4 stocks pushing the sector higher today:

4. Eastman Chemical Company ( EMN) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Eastman Chemical Company is up $2.92 (4.33) to $70.36 on heavy volume Thus far, 1.9 million shares of Eastman Chemical Company exchanged hands as compared to its average daily volume of 1.7 million shares. The stock has ranged in price between $67.19-$70.73 after having opened the day at $67.34 as compared to the previous trading day's close of $67.44.

Eastman Chemical Company, a specialty 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 $10.3 billion and is part of the chemicals industry. The company has a P/E ratio of 19.8, above the S&P 500 P/E ratio of 17.7. Shares are down 0.9% year to date as of the close of trading on Tuesday. Currently there are 9 analysts that rate Eastman Chemical Company a buy, no analysts rate it a sell, and 5 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 robust revenue growth, attractive valuation levels, solid stock price performance, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Eastman Chemical Company Ratings Report now.

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