Afam Capital Inc. Reduces Stake in Celanese Co. (CE)

Afam Capital Inc. trimmed its holdings in Celanese Co. (NYSE:CE) by 2.5% in the 4th quarter, according to its most recent 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 quarter. Celanese comprises approximately 1.2% of Afam Capital Inc.’s portfolio, making the stock its 11th biggest position. Afam Capital Inc. owned about 0.07% of Celanese worth $10,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. lifted its holdings in Celanese by 34.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 6,019 shares of the basic materials company’s stock worth $644,000 after purchasing an additional 1,527 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Celanese by 2.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,202,996 shares of the basic materials company’s stock worth $235,897,000 after purchasing an additional 52,102 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Celanese by 24.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 535,027 shares of the basic materials company’s stock worth $57,291,000 after acquiring an additional 104,229 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Celanese by 1.1% during the 4th quarter. BlackRock Inc. now owns 7,108,708 shares of the basic materials company’s stock worth $761,200,000 after acquiring an additional 74,850 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Celanese by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,982,911 shares of the basic materials company’s stock worth $212,331,000 after acquiring an additional 13,672 shares in the last quarter. Institutional investors own 96.00% of the company’s stock.

In other news, CFO Christopher W. Jensen sold 3,000 shares of the firm’s stock in a transaction that occurred 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 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 accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Several equities analysts have recently weighed in on CE shares. Robert W. Baird reissued a “buy” rating and set a $130.00 target price on shares of Celanese in a research report on Monday, January 29th. Deutsche Bank reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Celanese in a research report on Monday, January 29th. UBS Group increased their price target on Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Citigroup increased their price target on Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Tuesday, January 23rd. 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 stock. The company has an average rating of “Buy” and an average target price of $113.28.

Shares of Celanese Co. (NYSE:CE) traded up $1.41 on Friday, reaching $103.95. The company’s stock had a trading volume of 317,494 shares, compared to its average volume of 708,094. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.79. Celanese Co. has a one year low of $83.34 and a one year high of $114.00. The firm has a market capitalization of $14,120.00, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.37 and a beta of 1.27.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.86 by $0.12. The company had revenue of $1.59 billion for 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%. Celanese’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. analysts anticipate that Celanese Co. will post 8.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.84 annualized dividend and a dividend yield of 1.77%. Celanese’s dividend payout ratio (DPR) is presently 26.86%.

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Celanese Profile

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.

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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