National Pension Service lessened its stake in shares of Celanese Co. (NYSE:CE) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 144,911 shares of the basic materials company’s stock after selling 7,615 shares during the period. National Pension Service owned 0.11% of Celanese worth $15,517,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in CE. KAMES CAPITAL plc acquired a new position in Celanese during the fourth quarter worth $1,945,000. First PREMIER Bank raised its holdings in Celanese by 900.0% during the fourth quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock worth $107,000 after buying an additional 900 shares during the last quarter. American National Bank raised its holdings in Celanese by 2.1% during the fourth quarter. American National Bank now owns 45,436 shares of the basic materials company’s stock worth $4,865,000 after buying an additional 935 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Celanese by 7.6% during the third quarter. Parametric Portfolio Associates LLC now owns 260,064 shares of the basic materials company’s stock worth $27,117,000 after buying an additional 18,313 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Celanese by 13.4% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock worth $224,274,000 after buying an additional 253,809 shares during the last quarter. Institutional investors own 95.77% of the company’s stock.
CE has been the topic of several research reports. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Tuesday, January 23rd. Wells Fargo & Co reiterated a “market perform” rating and issued a $110.00 target price (up previously from $104.00) on shares of Celanese in a research note on Wednesday, January 17th. UBS Group upped their target price on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Citigroup upped their target price on shares of Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Cowen reiterated a “buy” rating on shares of Celanese in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $113.28.
In related news, CFO Christopher W. Jensen sold 3,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.
Celanese Co. (NYSE:CE) traded up $1.63 on Wednesday, reaching $102.78. 748,775 shares of the company traded hands, compared to its average volume of 714,031. The company has a market capitalization of $13,990.00, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69. Celanese Co. has a one year low of $83.34 and a one year high of $114.00.
Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.12. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese had a net margin of 13.73% and a return on equity of 33.49%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 earnings per share. equities analysts predict that Celanese Co. will post 8.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Tuesday, February 20th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, February 16th. This represents a $1.84 annualized dividend and a yield of 1.79%. Celanese’s payout ratio is currently 29.73%.
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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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