Becker Capital Management Inc. Buys Shares of 3,007 Celanese Co. (CE)

Becker Capital Management Inc. bought a new position in Celanese Co. (NYSE:CE) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 3,007 shares of the basic materials company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CE. Acima Private Wealth LLC lifted its position in Celanese by 28.6% during the first 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 in the last quarter. Avitas Wealth Management LLC lifted its position in Celanese by 0.4% during the first 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 in the last quarter. CWM LLC lifted its position in Celanese by 18.4% during the fourth quarter. CWM LLC now owns 895 shares of the basic materials company’s stock valued at $81,000 after buying an additional 139 shares in the last quarter. Parallel Advisors LLC lifted its position in Celanese by 12.1% during the fourth 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 in the last quarter. Finally, Signition LP lifted its position in Celanese by 3.8% during the fourth 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 in the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

NYSE CE opened at $98.62 on Friday. 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 $12.67 billion, a PE ratio of 8.97, a PEG ratio of 0.95 and a beta of 1.34.

Celanese (NYSE:CE) last posted its earnings results on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company posted $2.79 earnings per share. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Celanese Co. will post 10.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Monday, April 29th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, April 26th. This is a positive change from Celanese’s previous quarterly dividend of $0.54. Celanese’s payout ratio is 22.55%.

A number of brokerages have weighed in on CE. Zacks Investment Research raised shares of Celanese from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine cut shares of Celanese from a “hold” rating to a “sell” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Celanese from $107.00 to $126.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. Alembic Global Advisors set a $95.00 target price on shares of Celanese and gave the stock a “sell” rating in a research report on Monday, April 22nd. Finally, KeyCorp reduced their target price on shares of Celanese from $145.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $119.53.

In related news, Director John K. Wulff sold 9,175 shares of Celanese stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total value of $993,836.00. Following the completion of the sale, the director now owns 19,872 shares in the company, valued at $2,152,535.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

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Celanese 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.

Further Reading: What is the Quick Ratio?

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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