Scientech Research LLC acquired a new position in Celanese Co. (NYSE:CE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,498 shares of the basic materials company's stock, valued at approximately $1,073,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in shares of Celanese by 5.1% in the fourth quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company's stock worth $521,000 after purchasing an additional 351 shares during the last quarter. Twelve Points Wealth Management LLC increased its holdings in Celanese by 157.8% in the 4th quarter. Twelve Points Wealth Management LLC now owns 10,124 shares of the basic materials company's stock worth $701,000 after buying an additional 6,197 shares in the last quarter. Oak Thistle LLC purchased a new position in Celanese in the 4th quarter worth about $555,000. New England Research & Management Inc. purchased a new position in Celanese in the 4th quarter worth about $768,000. Finally, Sei Investments Co. lifted its stake in Celanese by 91.8% during the 4th quarter. Sei Investments Co. now owns 126,660 shares of the basic materials company's stock valued at $8,766,000 after acquiring an additional 60,621 shares during the period. 98.87% of the stock is owned by institutional investors.
Celanese Stock Performance
Celanese stock traded up $1.17 during midday trading on Thursday, hitting $53.59. The stock had a trading volume of 538,909 shares, compared to its average volume of 2,177,722. Celanese Co. has a 52-week low of $36.29 and a 52-week high of $154.55. The company has a market capitalization of $5.86 billion, a PE ratio of -3.84, a P/E/G ratio of 1.05 and a beta of 1.09. The firm's fifty day moving average is $48.32 and its two-hundred day moving average is $61.52. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.
Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.26 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company's revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. On average, research analysts forecast that Celanese Co. will post 8.79 EPS for the current year.
Celanese Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Monday, April 28th. Celanese's dividend payout ratio (DPR) is -0.79%.
Analyst Ratings Changes
CE has been the subject of a number of research analyst reports. BMO Capital Markets upgraded shares of Celanese from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $46.00 to $55.00 in a research note on Tuesday. Citigroup lowered their price objective on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Bank of America lifted their target price on shares of Celanese from $55.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Mizuho set a $45.00 price target on Celanese in a report on Tuesday, April 15th. Finally, KeyCorp raised their price target on Celanese from $71.00 to $76.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.94.
View Our Latest Research Report on Celanese
About Celanese
(
Free Report)
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It 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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