PDT Partners LLC Has $225,000 Stock Holdings in Eastman Chemical (NYSE:EMN)

PDT Partners LLC decreased its position in Eastman Chemical (NYSE:EMN - Free Report) by 89.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,462 shares of the basic materials company's stock after selling 20,229 shares during the quarter. PDT Partners LLC's holdings in Eastman Chemical were worth $225,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical in the 4th quarter valued at approximately $27,000. Picton Mahoney Asset Management raised its stake in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 124 shares in the last quarter. Assetmark Inc. grew its stake in Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after purchasing an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical during the fourth quarter valued at approximately $35,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Eastman Chemical in the 4th quarter worth approximately $37,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EMN shares. KeyCorp cut their target price on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Barclays cut their price objective on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. restated a "neutral" rating and set a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Finally, The Goldman Sachs Group lowered their price objective on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.15.

Eastman Chemical Price Performance

Shares of NYSE EMN traded up $3.22 during trading on Thursday, reaching $78.49. The company had a trading volume of 551,722 shares, compared to its average volume of 1,048,509. The business's 50 day moving average price is $83.79 and its 200-day moving average price is $93.25. Eastman Chemical has a 52 week low of $70.90 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a market cap of $9.06 billion, a PE ratio of 10.21, a PEG ratio of 1.22 and a beta of 1.29.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $1.61 EPS. Eastman Chemical's quarterly revenue was down .9% compared to the same quarter last year. Analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a dividend yield of 4.23%. Eastman Chemical's dividend payout ratio is presently 42.24%.

Eastman Chemical Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.