Celanese Corporation (NYSE:CE) Stock Holdings Lifted by Amalgamated Bank

Amalgamated Bank lifted its stake in Celanese Corporation (NYSE:CE - Free Report) by 55.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,508 shares of the basic materials company's stock after buying an additional 11,905 shares during the period. Amalgamated Bank's holdings in Celanese were worth $1,902,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dodge & Cox lifted its stake in shares of Celanese by 100.3% in the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company's stock worth $942,506,000 after acquiring an additional 6,818,993 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Celanese by 105.0% in the fourth quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company's stock worth $274,714,000 after acquiring an additional 2,033,025 shares in the last quarter. Turtle Creek Asset Management Inc. lifted its stake in shares of Celanese by 266.7% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company's stock worth $242,681,000 after acquiring an additional 2,550,334 shares in the last quarter. Norges Bank acquired a new position in shares of Celanese in the fourth quarter worth about $222,815,000. Finally, Geode Capital Management LLC lifted its stake in shares of Celanese by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,679,670 shares of the basic materials company's stock worth $184,998,000 after acquiring an additional 73,498 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler reiterated an "underweight" rating and issued a $48.00 price target (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Mizuho set a $45.00 price objective on Celanese in a research note on Tuesday, April 15th. UBS Group upped their price objective on Celanese from $51.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Citigroup cut their price objective on Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.61.

Celanese Stock Performance

CE stock traded up $1.64 on Thursday, reaching $62.41. The company's stock had a trading volume of 1,785,005 shares, compared to its average volume of 2,295,223. The firm has a fifty day moving average of $54.44 and a two-hundred day moving average of $56.84. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.94 and a quick ratio of 1.11. The company has a market capitalization of $6.83 billion, a P/E ratio of -4.10, a price-to-earnings-growth ratio of 2.27 and a beta of 1.14. Celanese Corporation has a 52 week low of $36.29 and a 52 week high of $147.86.

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

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Monday, April 28th. Celanese's dividend payout ratio is presently -0.79%.

Insider Buying and Selling at Celanese

In related news, SVP Mark Christopher Murray acquired 1,479 shares of Celanese stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $52.18 per share, with a total value of $77,174.22. Following the purchase, the senior vice president directly owned 15,468 shares in the company, valued at $807,120.24. The trade was a 10.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

About Celanese

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.