Afam Capital Inc. lowered its position in Celanese Co. (NYSE:CE) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,689 shares of the basic materials company’s stock after selling 2,494 shares during the period. Celanese accounts for about 1.2% of Afam Capital Inc.’s investment portfolio, making the stock its 11th largest holding. Afam Capital Inc.’s holdings in Celanese were worth $10,568,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of Celanese by 8.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 134 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Celanese by 6.4% in the 3rd quarter. GSA Capital Partners LLP now owns 8,449 shares of the basic materials company’s stock worth $881,000 after acquiring an additional 505 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Celanese by 20.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,014 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 506 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Celanese by 1.4% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,829 shares of the basic materials company’s stock worth $4,466,000 after acquiring an additional 573 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Celanese by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,531 shares of the basic materials company’s stock worth $525,000 after acquiring an additional 582 shares in the last quarter. 95.77% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on CE. Deutsche Bank reaffirmed a “buy” rating and set a $128.00 price objective on shares of Celanese in a research report on Monday, January 29th. Jefferies Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of Celanese in a research report on Monday, January 29th. Citigroup raised their price objective on Celanese from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Robert W. Baird reaffirmed a “buy” rating and set a $130.00 price objective on shares of Celanese in a research report on Monday, January 29th. Finally, Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Tuesday, January 23rd. One investment 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. Celanese currently has an average rating of “Buy” and an average target price of $113.28.
In other news, CFO Christopher W. Jensen sold 3,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the chief financial officer now directly owns 52,924 shares in the company, valued at approximately $5,821,640. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.
Shares of Celanese Co. (NYSE:CE) opened at $102.49 on Friday. The company has a market capitalization of $13,920.00, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.36 and a beta of 1.27. Celanese Co. has a fifty-two week low of $83.34 and a fifty-two week high of $114.00. The company has a quick ratio of 1.16, a current ratio of 1.79 and a debt-to-equity ratio of 1.00.
Celanese (NYSE:CE) last posted its 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. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. sell-side analysts expect that Celanese Co. will post 8.52 earnings per share for the current year.
The company also recently declared 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 of this dividend is Friday, February 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.80%. Celanese’s dividend payout ratio (DPR) 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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