Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Celanese Co. (NYSE:CE) by 102.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,243 shares of the basic materials company’s stock after acquiring an additional 5,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Celanese were worth $1,109,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CE. Nuveen Asset Management LLC raised its stake in Celanese by 23.1% in the fourth quarter. Nuveen Asset Management LLC now owns 273,162 shares of the basic materials company’s stock valued at $24,576,000 after buying an additional 51,275 shares during the period. Macquarie Group Ltd. raised its stake in Celanese by 0.4% in the fourth quarter. Macquarie Group Ltd. now owns 155,877 shares of the basic materials company’s stock valued at $14,025,000 after buying an additional 610 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Celanese by 14.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 71,746 shares of the basic materials company’s stock valued at $6,454,000 after buying an additional 9,143 shares during the period. Cetera Investment Advisers raised its stake in Celanese by 16.4% in the fourth quarter. Cetera Investment Advisers now owns 6,536 shares of the basic materials company’s stock valued at $588,000 after buying an additional 920 shares during the period. Finally, Traynor Capital Management Inc. raised its stake in Celanese by 12.8% in the fourth quarter. Traynor Capital Management Inc. now owns 10,050 shares of the basic materials company’s stock valued at $904,000 after buying an additional 1,140 shares during the period. Institutional investors and hedge funds own 99.40% of the company’s stock.
CE has been the topic of several research analyst reports. Deutsche Bank upped their price objective on Celanese from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded Celanese from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. Barclays dropped their price objective on Celanese from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. KeyCorp dropped their price objective on Celanese from $145.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 30th. Finally, ValuEngine upgraded Celanese from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. 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 company’s stock. Celanese currently has an average rating of “Hold” and an average target price of $119.53.
Shares of NYSE:CE opened at $98.71 on Friday. The company has a market cap of $12.67 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.95 and a beta of 1.34. Celanese Co. has a 1 year low of $82.91 and a 1 year 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.
Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.13. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.76 billion. Celanese had a return on equity of 39.76% and a net margin of 16.89%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.79 earnings per share. On average, analysts anticipate that Celanese Co. will post 10.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Monday, April 29th were given a dividend of $0.62 per share. The ex-dividend date was Friday, April 26th. This represents a $2.48 dividend on an annualized basis and a yield of 2.51%. This is an increase from Celanese’s previous quarterly dividend of $0.54. Celanese’s dividend payout ratio is currently 22.55%.
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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.
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