Teacher Retirement System of Texas raised its holdings in Celanese Co. (NYSE:CE) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 265,417 shares of the basic materials company’s stock after buying an additional 40,546 shares during the period. Teacher Retirement System of Texas owned about 0.21% of Celanese worth $23,880,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acima Private Wealth LLC bought a new stake in Celanese during the fourth quarter valued at approximately $31,000. Baystate Wealth Management LLC lifted its holdings in shares of Celanese by 200.9% in the 4th quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 221 shares during the last quarter. Pearl River Capital LLC bought a new stake in shares of Celanese in the 4th quarter worth approximately $36,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Celanese in the 4th quarter worth approximately $37,000. Finally, Doyle Wealth Management bought a new stake in shares of Celanese in the 4th quarter worth approximately $62,000. 96.45% of the stock is currently owned by institutional investors.
CE has been the subject of a number of recent research reports. Zacks Investment Research restated a “hold” rating on shares of Celanese in a report on Monday, December 31st. BMO Capital Markets lowered shares of Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 price objective for the company. in a report on Tuesday, January 8th. SunTrust Banks lowered shares of Celanese from a “buy” rating to a “hold” rating in a report on Monday, January 14th. UBS Group set a $126.00 price objective on shares of Celanese and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, KeyCorp lowered their price target on shares of Celanese from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $114.22.
Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, January 28th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.02). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Celanese had a net margin of 16.87% and a return on equity of 40.37%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.98 earnings per share. Analysts predict that Celanese Co. will post 10.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, April 29th will be given a $0.62 dividend. The ex-dividend date is Friday, April 26th. This is an increase from Celanese’s previous quarterly dividend of $0.54. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.36%. Celanese’s dividend payout ratio is currently 19.64%.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
Featured Story: How to invest in blue-chip stocks
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.