Quantitative Investment Management LLC lowered its position in Celanese Co. (NYSE:CE) by 58.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 46,100 shares of the basic materials company’s stock after selling 64,300 shares during the period. Quantitative Investment Management LLC’s holdings in Celanese were worth $4,936,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CE. First PREMIER Bank raised its holdings in shares of Celanese by 900.0% during the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 900 shares during the period. Cerebellum GP LLC purchased a new position in shares of Celanese during the 4th quarter worth $129,000. Wellington Shields & Co. LLC purchased a new position in shares of Celanese during the 4th quarter worth $203,000. IBM Retirement Fund purchased a new position in shares of Celanese during the 3rd quarter worth $217,000. Finally, Barrett Asset Management LLC raised its holdings in shares of Celanese by 40.0% during the 3rd quarter. Barrett Asset Management LLC now owns 2,100 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 600 shares during the period. Institutional investors own 95.83% of the company’s stock.
Several research analysts have recently commented on the company. Deutsche Bank reiterated a “buy” rating and set a $128.00 price target on shares of Celanese in a report on Monday, January 29th. Jefferies Group reiterated a “buy” rating and set a $130.00 price target on shares of Celanese in a report on Monday, January 29th. Robert W. Baird reiterated a “buy” rating and set a $130.00 price target on shares of Celanese in a report on Monday, January 29th. Citigroup lifted their price target on Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, UBS Group lifted their price target on Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Celanese currently has a consensus rating of “Buy” and a consensus target price of $113.28.
Shares of Celanese Co. (NYSE CE) opened at $107.83 on Wednesday. The stock has a market cap of $14,615.27, a PE ratio of 14.33, a P/E/G ratio of 1.40 and a beta of 1.29. Celanese Co. has a fifty-two week low of $83.34 and a fifty-two week high of $114.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.79 and a quick ratio of 1.21.
Celanese (NYSE:CE) last released its earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.12. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. Celanese’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. equities analysts predict that Celanese Co. will post 8.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, February 16th. Celanese’s dividend payout ratio is currently 30.16%.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of Celanese stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the chief financial officer now directly owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.
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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