Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Celanese (NYSE:CE) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,784 shares of the basic materials company’s stock after purchasing an additional 700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Celanese were worth $5,089,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new position in shares of Celanese during the fourth quarter valued at about $129,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Celanese during the fourth quarter valued at about $160,000. Lido Advisors LLC acquired a new position in shares of Celanese during the fourth quarter valued at about $200,000. Wellington Shields & Co. LLC acquired a new position in shares of Celanese during the fourth quarter valued at about $203,000. Finally, Lourd Capital LLC acquired a new position in shares of Celanese during the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 94.42% of the company’s stock.
Shares of CE stock opened at $108.05 on Monday. Celanese has a 52-week low of $83.34 and a 52-week high of $114.00. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.31 and a beta of 1.31.
Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, April 16th. The basic materials company reported $2.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.46. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $1.81 EPS. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. equities analysts expect that Celanese will post 9.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 10th. Shareholders of record on Monday, April 30th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.00%. This is an increase from Celanese’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, April 27th. Celanese’s dividend payout ratio is presently 28.76%.
CE has been the topic of a number of analyst reports. Barclays initiated coverage on shares of Celanese in a report on Friday, April 20th. They issued an “overweight” rating and a $111.19 target price on the stock. BMO Capital Markets initiated coverage on shares of Celanese in a report on Tuesday, March 27th. They issued an “outperform” rating and a $131.00 target price on the stock. MED restated a “sell” rating and issued a $82.00 target price on shares of Celanese in a report on Tuesday, April 24th. SunTrust Banks restated a “buy” rating on shares of Celanese in a report on Wednesday, January 17th. Finally, UBS upped their target price on shares of Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $114.96.
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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