Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Celanese Co. (NYSE:CE)

Posted by Defense World Staff on Feb 15th, 2023

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Celanese Co. (NYSE:CE – Get Rating) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,991 shares of the basic materials company’s stock after purchasing an additional 976 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Celanese were worth $1,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Celanese in the third quarter valued at $45,000. South Dakota Investment Council grew its position in Celanese by 30.6% during the third quarter. South Dakota Investment Council now owns 4,700 shares of the basic materials company’s stock valued at $425,000 after acquiring an additional 1,100 shares during the period. California Public Employees Retirement System grew its position in Celanese by 12.6% during the third quarter. California Public Employees Retirement System now owns 249,991 shares of the basic materials company’s stock valued at $22,584,000 after acquiring an additional 27,881 shares during the period. Distillate Capital Partners LLC grew its position in Celanese by 14.3% during the third quarter. Distillate Capital Partners LLC now owns 52,149 shares of the basic materials company’s stock valued at $4,797,000 after acquiring an additional 6,518 shares during the period. Finally, Westpac Banking Corp grew its position in Celanese by 7.5% during the third quarter. Westpac Banking Corp now owns 17,365 shares of the basic materials company’s stock valued at $1,569,000 after acquiring an additional 1,219 shares during the period. Hedge funds and other institutional investors own 92.54% of the company’s stock.

Celanese Stock Up 0.1 %

CE stock opened at $122.08 on Wednesday. The company has a current ratio of 4.73, a quick ratio of 4.11 and a debt-to-equity ratio of 2.15. The firm has a 50 day simple moving average of $113.39 and a 200-day simple moving average of $106.61. The company has a market capitalization of $13.24 billion, a P/E ratio of 8.07, a PEG ratio of 4.19 and a beta of 1.31. Celanese Co. has a twelve month low of $86.71 and a twelve month high of $161.37.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, February 17th. Celanese’s payout ratio is currently 18.51%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CE shares. Barclays boosted their price target on Celanese from $133.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, December 19th. Citigroup boosted their price target on Celanese from $96.00 to $111.00 and gave the company a “neutral” rating in a research report on Thursday, December 15th. Mizuho lowered their price target on Celanese from $108.00 to $107.00 and set a “neutral” rating for the company in a research report on Thursday, January 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Celanese from $110.00 to $105.00 in a research report on Thursday, November 10th. Finally, Royal Bank of Canada raised Celanese from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $125.00 in a research report on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $116.00.

Celanese Profile

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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.