DNB Asset Management AS Acquires 336 Shares of Celanese Co. (NYSE:CE)

Posted by on Mar 24th, 2023

DNB Asset Management AS boosted its holdings in shares of Celanese Co. (NYSE:CE – Get Rating) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,199 shares of the basic materials company’s stock after buying an additional 336 shares during the period. DNB Asset Management AS’s holdings in Celanese were worth $2,167,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its stake in Celanese by 3.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 112,161 shares of the basic materials company’s stock worth $10,133,000 after purchasing an additional 3,832 shares during the last quarter. AlphaCrest Capital Management LLC lifted its stake in Celanese by 131.2% during the third quarter. AlphaCrest Capital Management LLC now owns 30,298 shares of the basic materials company’s stock worth $2,737,000 after purchasing an additional 17,191 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Celanese by 88.1% during the second quarter. BNP Paribas Arbitrage SA now owns 164,443 shares of the basic materials company’s stock worth $19,340,000 after purchasing an additional 77,034 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Celanese during the third quarter worth about $3,136,000. Finally, Edgestream Partners L.P. bought a new stake in Celanese during the second quarter worth about $1,063,000. Institutional investors own 92.54% of the company’s stock.

Celanese Stock Down 1.4 %

CE stock opened at $99.55 on Friday. Celanese Co. has a fifty-two week low of $86.71 and a fifty-two week high of $161.37. The business’s 50 day moving average price is $117.09 and its two-hundred day moving average price is $106.63. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.93 and a current ratio of 1.63. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 5.54 and a beta of 1.31.

Celanese (NYSE:CE – Get Rating) last posted its earnings results on Friday, February 24th. The basic materials company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.12). Celanese had a return on equity of 32.15% and a net margin of 19.58%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company posted $4.91 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, analysts forecast that Celanese Co. will post 11.67 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were issued a dividend of $0.70 per share. The ex-dividend date was Friday, February 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.81%. Celanese’s dividend payout ratio (DPR) is 16.12%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CE shares. Barclays lifted their price target on Celanese from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, December 19th. Robert W. Baird boosted their target price on Celanese from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. StockNews.com started coverage on Celanese in a research note on Thursday, March 16th. They issued a “sell” rating for the company. BMO Capital Markets lowered their target price on Celanese from $152.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Celanese from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $127.38.

Insiders Place Their Bets

In related news, SVP Mark Christopher Murray purchased 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were bought at an average price of $117.15 per share, for a total transaction of $140,580.00. Following the purchase, the senior vice president now directly owns 10,589 shares of the company’s stock, valued at approximately $1,240,501.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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