Romano Brothers AND Company Makes New $49,000 Investment in Celanese Co. (NYSE:CE)

Posted by on Mar 28th, 2023

Romano Brothers AND Company bought a new position in shares of Celanese Co. (NYSE:CE – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 478 shares of the basic materials company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 87 shares during the period. Ronald Blue Trust Inc. bought a new position in shares of Celanese during the second quarter worth about $27,000. Capital Analysts LLC bought a new position in shares of Celanese during the second quarter worth about $48,000. Zions Bancorporation N.A. grew its position in shares of Celanese by 338.5% during the first quarter. Zions Bancorporation N.A. now owns 421 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 325 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Celanese by 50.5% during the third quarter. UMB Bank n.a. now owns 462 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 155 shares during the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.

Celanese Stock Performance

NYSE:CE opened at $103.26 on Tuesday. Celanese Co. has a twelve month low of $86.71 and a twelve month high of $161.37. The company has a current ratio of 1.63, a quick ratio of 0.93 and a debt-to-equity ratio of 2.19. The company has a 50-day moving average of $116.34 and a 200-day moving average of $106.51. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 5.94, a price-to-earnings-growth ratio of 5.44 and a beta of 1.31.

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

Celanese Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. Celanese’s dividend payout ratio (DPR) is 16.12%.

Insider Activity

In other news, SVP Mark Christopher Murray acquired 1,200 shares of Celanese stock in a transaction on Tuesday, February 28th. The stock was bought at an average cost of $117.15 per share, with a total value of $140,580.00. Following the completion of the purchase, the senior vice president now owns 10,589 shares of the company’s stock, valued at $1,240,501.35. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CE shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Celanese from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Wells Fargo & Company upped their price target on shares of Celanese from $115.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 27th. BMO Capital Markets lowered their price target on shares of Celanese from $152.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, February 28th. Credit Suisse Group upped their price target on shares of Celanese from $83.00 to $100.00 and gave the stock an “underperform” rating in a research report on Friday, February 24th. Finally, Robert W. Baird upped their price target on shares of Celanese from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, February 27th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $127.38.

About Celanese

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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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