Wedge Capital Management L L P NC lessened its stake in Celanese Co. (NYSE:CE) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,572 shares of the basic materials company’s stock after selling 3,127 shares during the period. Wedge Capital Management L L P NC owned 0.06% of Celanese worth $8,306,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. First PREMIER Bank lifted its stake in Celanese by 900.0% in the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Celanese in the 4th quarter valued at about $129,000. Toronto Dominion Bank lifted its stake in Celanese by 8.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after purchasing an additional 134 shares during the last quarter. Lourd Capital LLC acquired a new stake in Celanese in the 4th quarter valued at about $221,000. Finally, IBM Retirement Fund bought a new position in Celanese in the 3rd quarter valued at about $217,000. Hedge funds and other institutional investors own 95.77% of the company’s stock.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.
Celanese Co. (NYSE CE) traded down $0.40 during trading on Tuesday, reaching $100.64. 108,417 shares of the company were exchanged, compared to its average volume of 699,461. The company has a market cap of $13,690.00, a price-to-earnings ratio of 16.29, a PEG ratio of 1.32 and a beta of 1.27. Celanese Co. has a twelve month low of $83.34 and a twelve month high of $114.00. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.94.
Celanese (NYSE:CE) last issued its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a net margin of 12.87% and a return on equity of 29.21%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. research analysts anticipate that Celanese Co. will post 8.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be paid a $0.46 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.83%. Celanese’s dividend payout ratio (DPR) is 29.73%.
Several research analysts have weighed in on the stock. Jefferies Group reissued a “buy” rating and issued a $130.00 price target on shares of Celanese in a report on Monday, January 29th. UBS Group increased their price target on shares of Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Deutsche Bank restated a “buy” rating and issued a $128.00 target price on shares of Celanese in a research report on Monday, January 29th. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Celanese from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $113.28.
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Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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