Global Retirement Partners LLC boosted its holdings in shares of Celanese Co. (NYSE:CE – Free Report) by 158.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 323 shares of the basic materials company’s stock after buying an additional 198 shares during the quarter. Global Retirement Partners LLC’s holdings in Celanese were worth $33,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. abrdn plc boosted its holdings in shares of Celanese by 7.6% during the fourth quarter. abrdn plc now owns 26,632 shares of the basic materials company’s stock worth $2,723,000 after acquiring an additional 1,892 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Celanese by 7.9% during the first quarter. AdvisorNet Financial Inc now owns 1,853 shares of the basic materials company’s stock worth $202,000 after acquiring an additional 136 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Celanese during the fourth quarter worth approximately $147,000. MMA Asset Management LLC bought a new stake in shares of Celanese during the fourth quarter worth approximately $260,000. Finally, Appian Way Asset Management LP bought a new stake in shares of Celanese during the fourth quarter worth approximately $19,430,000. Institutional investors and hedge funds own 94.17% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on CE shares. JPMorgan Chase & Co. cut Celanese from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $122.00 in a report on Wednesday, August 9th. Royal Bank of Canada boosted their price target on Celanese from $128.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Vertical Research cut Celanese from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a research note on Friday, June 9th. Mizuho cut their price target on Celanese from $113.00 to $112.00 in a research note on Thursday, May 11th. Finally, BMO Capital Markets cut Celanese from an “outperform” rating to a “market perform” rating and cut their price target for the company from $133.00 to $119.00 in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Celanese has an average rating of “Hold” and a consensus price target of $126.67.
Insider Transactions at Celanese
In related news, SVP Thomas Francis Kelly acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average cost of $107.29 per share, for a total transaction of $214,580.00. Following the completion of the acquisition, the senior vice president now directly owns 47,165 shares of the company’s stock, valued at approximately $5,060,332.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.
Celanese Stock Down 4.1 %
Shares of NYSE:CE opened at $119.21 on Wednesday. The company has a fifty day moving average of $118.97 and a 200-day moving average of $113.45. The company has a market capitalization of $12.97 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 4.48 and a beta of 1.32. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.59. Celanese Co. has a 52-week low of $86.71 and a 52-week high of $128.50.
Celanese (NYSE:CE – Get Free Report) last announced its quarterly earnings results on Monday, August 7th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.29). The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.96 billion. Celanese had a return on equity of 17.68% and a net margin of 12.32%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $4.99 earnings per share. On average, equities analysts predict that Celanese Co. will post 9.17 EPS for the current fiscal year.
Celanese Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a dividend of $0.70 per share. The ex-dividend date was Friday, July 28th. This represents a $2.80 annualized dividend and a dividend yield of 2.35%. Celanese’s dividend payout ratio (DPR) is presently 24.10%.
About Celanese
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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