California Public Employees Retirement System Has $25.66 Million Position in Celanese Co. (NYSE:CE)

Posted by on May 11th, 2023

California Public Employees Retirement System lifted its stake in Celanese Co. (NYSE:CE – Get Rating) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 250,927 shares of the basic materials company’s stock after acquiring an additional 936 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Celanese worth $25,655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CE. Estate Counselors LLC acquired a new position in Celanese in the fourth quarter valued at about $695,000. Russell Investments Group Ltd. grew its position in Celanese by 18.6% during the 4th quarter. Russell Investments Group Ltd. now owns 213,640 shares of the basic materials company’s stock worth $21,855,000 after acquiring an additional 33,502 shares during the last quarter. AMG National Trust Bank increased its position in Celanese by 5.3% in the 4th quarter. AMG National Trust Bank now owns 27,795 shares of the basic materials company’s stock valued at $2,842,000 after acquiring an additional 1,402 shares during the period. Arizona State Retirement System raised its stake in shares of Celanese by 3.1% during the fourth quarter. Arizona State Retirement System now owns 30,669 shares of the basic materials company’s stock valued at $3,136,000 after acquiring an additional 931 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Celanese by 5.7% during the fourth quarter. Toronto Dominion Bank now owns 47,469 shares of the basic materials company’s stock worth $4,850,000 after purchasing an additional 2,557 shares during the period. 92.54% of the stock is owned by institutional investors.

Celanese Stock Down 1.5 %

CE stock opened at $102.93 on Thursday. Celanese Co. has a twelve month low of $86.71 and a twelve month high of $161.37. The company has a quick ratio of 0.93, a current ratio of 1.63 and a debt-to-equity ratio of 2.19. The stock’s 50 day moving average is $107.08 and its 200-day moving average is $108.62. The firm has a market capitalization of $11.16 billion, a PE ratio of 5.93, a P/E/G ratio of 5.69 and a beta of 1.31.

Celanese (NYSE:CE – Get Rating) last posted its earnings results on Tuesday, May 9th. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.35. Celanese had a return on equity of 32.15% and a net margin of 19.58%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the company earned $5.54 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Sell-side analysts expect that Celanese Co. will post 11.64 EPS for the current fiscal year.

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, April 28th. This represents a $2.80 annualized dividend and a dividend yield of 2.72%. Celanese’s payout ratio is currently 16.12%.

Insider Transactions at Celanese

In related news, SVP Mark Christopher Murray purchased 1,200 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was 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 in the company, valued at approximately $1,240,501.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Celanese from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Mizuho upped their price target on shares of Celanese from $107.00 to $113.00 and gave the company a “neutral” rating in a research report on Tuesday, February 28th. StockNews.com cut shares of Celanese from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. UBS Group upped their price target on shares of Celanese from $124.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, January 11th. Finally, Piper Sandler raised shares of Celanese from an “underweight” rating to a “neutral” rating and upped their price target for the company from $105.00 to $120.00 in a research report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Celanese presently has an average rating of “Hold” and a consensus price target of $128.54.

Celanese Company 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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