FormulaFolio Investments LLC purchased a new position in Celanese Co. (NYSE:CE) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,992 shares of the basic materials company’s stock, valued at approximately $295,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acima Private Wealth LLC grew its holdings in Celanese by 28.6% during the 1st quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares during the last quarter. Avitas Wealth Management LLC grew its holdings in Celanese by 0.4% during the 1st quarter. Avitas Wealth Management LLC now owns 27,611 shares of the basic materials company’s stock valued at $2,723,000 after buying an additional 103 shares during the last quarter. CWM LLC grew its holdings in Celanese by 18.4% during the 4th quarter. CWM LLC now owns 895 shares of the basic materials company’s stock valued at $81,000 after buying an additional 139 shares during the last quarter. Parallel Advisors LLC grew its holdings in Celanese by 12.1% during the 4th quarter. Parallel Advisors LLC now owns 1,311 shares of the basic materials company’s stock valued at $117,000 after buying an additional 141 shares during the last quarter. Finally, Signition LP grew its holdings in Celanese by 3.8% during the 4th quarter. Signition LP now owns 4,118 shares of the basic materials company’s stock valued at $370,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.
CE stock opened at $100.11 on Thursday. Celanese Co. has a 52-week low of $82.91 and a 52-week high of $119.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58. The firm has a market cap of $12.70 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Monday, April 29th were issued a dividend of $0.62 per share. This is a boost from Celanese’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, April 26th. This represents a $2.48 annualized dividend and a dividend yield of 2.48%. Celanese’s dividend payout ratio (DPR) is 22.55%.
A number of equities research analysts have commented on CE shares. Robert W. Baird increased their target price on Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Deutsche Bank increased their target price on Celanese from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. UBS Group set a $126.00 target price on Celanese and gave the company a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded Celanese from a “sell” rating to a “hold” rating and set a $114.00 target price on the stock in a report on Monday, April 8th. Finally, Alembic Global Advisors upgraded Celanese from an “underweight” rating to a “neutral” rating and increased their target price for the company from $95.00 to $115.00 in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $119.53.
In related news, Director John K. Wulff sold 9,175 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $108.32, for a total value of $993,836.00. Following the transaction, the director now directly owns 19,872 shares of the company’s stock, valued at approximately $2,152,535.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by company insiders.
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.
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