Concentric Capital Strategies LP acquired a new stake in shares of Celanese Co. (NYSE:CE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,194 shares of the basic materials company's stock, valued at approximately $1,328,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Celanese by 14.0% during the 3rd quarter. Barclays PLC now owns 281,709 shares of the basic materials company's stock valued at $38,300,000 after purchasing an additional 34,658 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Celanese during the 3rd quarter worth approximately $179,000. Principal Financial Group Inc. lifted its stake in shares of Celanese by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 128,201 shares of the basic materials company's stock valued at $17,430,000 after buying an additional 13,503 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Celanese in the fourth quarter worth about $209,000. Finally, First Hawaiian Bank grew its position in shares of Celanese by 116.0% during the fourth quarter. First Hawaiian Bank now owns 15,400 shares of the basic materials company's stock worth $1,066,000 after purchasing an additional 8,269 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.
Celanese Stock Down 0.9 %
Celanese stock traded down $0.46 during trading hours on Friday, reaching $51.25. The stock had a trading volume of 2,396,600 shares, compared to its average volume of 2,150,418. Celanese Co. has a 52 week low of $36.29 and a 52 week high of $161.94. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -3.68, a PEG ratio of 1.05 and a beta of 1.09. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The business's 50 day moving average price is $48.56 and its 200-day moving average price is $65.21.
Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. Celanese's revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Celanese Co. will post 8.79 EPS for the current year.
Celanese Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Monday, April 28th. Celanese's dividend payout ratio (DPR) is presently -0.86%.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Vertical Research upgraded shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price for the company in a research report on Thursday, March 6th. StockNews.com upgraded shares of Celanese from a "sell" rating to a "hold" rating in a report on Tuesday. Mizuho set a $45.00 price objective on shares of Celanese in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $61.89.
Check Out Our Latest Report on Celanese
Celanese Company Profile
(
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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