Nisa Investment Advisors LLC decreased its holdings in Celanese Co. (NYSE:CE – Get Rating) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,738 shares of the basic materials company’s stock after selling 1,960 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Celanese were worth $3,552,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. raised its stake in Celanese by 30.2% during the 1st quarter. Invesco Ltd. now owns 1,097,231 shares of the basic materials company’s stock worth $156,761,000 after acquiring an additional 254,456 shares during the period. Dimensional Fund Advisors LP raised its stake in Celanese by 14.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,006,186 shares of the basic materials company’s stock worth $90,893,000 after acquiring an additional 129,524 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Celanese by 0.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,004,538 shares of the basic materials company’s stock worth $90,749,000 after acquiring an additional 7,343 shares during the period. Renaissance Technologies LLC raised its position in shares of Celanese by 96.1% during the third quarter. Renaissance Technologies LLC now owns 708,209 shares of the basic materials company’s stock valued at $63,980,000 after buying an additional 347,009 shares during the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of Celanese by 2.1% during the third quarter. Evercore Wealth Management LLC now owns 679,402 shares of the basic materials company’s stock valued at $61,378,000 after buying an additional 13,719 shares during the last quarter. Hedge funds and other institutional investors own 92.54% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on CE. Mizuho raised their target price on shares of Celanese from $107.00 to $113.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. UBS Group raised their target price on shares of Celanese from $124.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. Wells Fargo & Company raised their target price on shares of Celanese from $115.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 27th. Royal Bank of Canada cut their target price on shares of Celanese from $139.00 to $131.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Finally, Citigroup raised their target price on shares of Celanese from $111.00 to $121.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $128.54.
Insider Buying and Selling at Celanese
Celanese Stock Performance
CE stock opened at $105.68 on Tuesday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.63 and a quick ratio of 0.93. The business has a 50-day moving average price of $110.66 and a 200 day moving average price of $107.79. The company has a market capitalization of $11.46 billion, a P/E ratio of 6.08, a PEG ratio of 5.62 and a beta of 1.30. Celanese Co. has a 1-year low of $86.71 and a 1-year high of $161.37.
Celanese (NYSE:CE – Get Rating) last released 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). The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.41 billion. Celanese had a net margin of 19.58% and a return on equity of 32.15%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.91 earnings per share. As a group, equities research analysts forecast that Celanese Co. will post 11.64 EPS for the current fiscal year.
Celanese Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Monday, May 1st will be issued a $0.70 dividend. The ex-dividend date is Friday, April 28th. This represents a $2.80 dividend on an annualized basis and a yield of 2.65%. Celanese’s dividend payout ratio is presently 16.12%.
Celanese Profile
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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