Sage Rhino Capital LLC Buys Shares of 4,838 Celanese Corporation (NYSE:CE)

Sage Rhino Capital LLC bought a new stake in Celanese Corporation (NYSE:CE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,838 shares of the basic materials company's stock, valued at approximately $275,000.

Several other large investors have also recently bought and sold shares of CE. Focus Partners Wealth increased its position in shares of Celanese by 3.9% during the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company's stock worth $291,000 after acquiring an additional 156 shares in the last quarter. United Capital Financial Advisors LLC increased its position in shares of Celanese by 2.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company's stock worth $427,000 after acquiring an additional 172 shares in the last quarter. Tidal Investments LLC increased its position in shares of Celanese by 6.8% during the fourth quarter. Tidal Investments LLC now owns 3,263 shares of the basic materials company's stock worth $226,000 after acquiring an additional 209 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Celanese by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 13,442 shares of the basic materials company's stock worth $924,000 after acquiring an additional 242 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Celanese by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 14,024 shares of the basic materials company's stock worth $971,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 98.87% of the company's stock.

Insiders Place Their Bets

In other Celanese news, SVP Mark Christopher Murray acquired 1,479 shares of the company's stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $52.18 per share, for a total transaction of $77,174.22. Following the purchase, the senior vice president directly owned 15,468 shares of the company's stock, valued at $807,120.24. This trade represents a 10.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Celanese Stock Performance

Shares of NYSE CE traded down $1.37 during mid-day trading on Friday, reaching $61.02. 814,034 shares of the company were exchanged, compared to its average volume of 2,306,969. The company's 50-day simple moving average is $55.08 and its 200-day simple moving average is $56.67. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $6.68 billion, a P/E ratio of -4.01, a P/E/G ratio of 2.29 and a beta of 1.14. Celanese Corporation has a twelve month low of $36.29 and a twelve month high of $147.86.

Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. The company had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.26 billion. Celanese had a negative net margin of 16.54% and a positive return on equity of 11.28%. Celanese's quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 EPS. As a group, research analysts predict that Celanese Corporation will post 8.79 earnings per share for the current year.

Celanese Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.20%. The ex-dividend date was Monday, April 28th. Celanese's dividend payout ratio (DPR) is -0.79%.

Wall Street Analyst Weigh In

CE has been the subject of several research reports. Alembic Global Advisors raised shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. KeyCorp raised their target price on shares of Celanese from $71.00 to $76.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Mizuho set a $45.00 target price on shares of Celanese in a research report on Tuesday, April 15th. Finally, Evercore ISI decreased their target price on shares of Celanese from $85.00 to $75.00 and set an "in-line" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Celanese has a consensus rating of "Hold" and a consensus price target of $65.33.

Celanese 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.