Balyasny Asset Management L.P. Takes $20.05 Million Position in Celanese Co. (NYSE:CE)

Balyasny Asset Management L.P. purchased a new position in Celanese Co. (NYSE:CE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 289,665 shares of the basic materials company's stock, valued at approximately $20,048,000. Balyasny Asset Management L.P. owned approximately 0.26% of Celanese at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in shares of Celanese by 5.1% during the 4th quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company's stock valued at $521,000 after purchasing an additional 351 shares during the last quarter. Twelve Points Wealth Management LLC increased its position in Celanese by 157.8% during the fourth quarter. Twelve Points Wealth Management LLC now owns 10,124 shares of the basic materials company's stock valued at $701,000 after acquiring an additional 6,197 shares during the last quarter. First Hawaiian Bank raised its stake in shares of Celanese by 116.0% in the fourth quarter. First Hawaiian Bank now owns 15,400 shares of the basic materials company's stock valued at $1,066,000 after acquiring an additional 8,269 shares during the period. Oak Thistle LLC bought a new stake in shares of Celanese in the 4th quarter worth about $555,000. Finally, New England Research & Management Inc. purchased a new position in shares of Celanese during the 4th quarter worth about $768,000. 98.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

CE has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. dropped their price objective on Celanese from $92.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. BMO Capital Markets reduced their target price on Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. UBS Group lowered their target price on shares of Celanese from $60.00 to $46.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley decreased their price objective on shares of Celanese from $100.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Celanese currently has an average rating of "Hold" and an average target price of $61.89.

Celanese Stock Down 0.9 %

Shares of NYSE CE traded down $0.46 during trading hours on Friday, hitting $51.25. 2,396,600 shares of the stock were exchanged, compared to its average volume of 2,150,418. The company has a market cap of $5.60 billion, a PE ratio of -3.68, a PEG ratio of 1.05 and a beta of 1.09. Celanese Co. has a 12 month low of $36.29 and a 12 month high of $161.94. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The firm has a fifty day moving average price of $48.56 and a 200-day moving average price of $65.21.

Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings data 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. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the firm earned $2.08 EPS. The business's quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts expect that Celanese Co. will post 8.79 EPS for the current year.

Celanese Dividend Announcement

The business 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 dividend of $0.03 per share. The ex-dividend date is Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. Celanese's payout ratio is -0.79%.

Celanese Company Profile

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.