Amalgamated Bank Has $1.90 Million Stock Holdings in Celanese Corporation (NYSE:CE)

Amalgamated Bank increased its stake in Celanese Corporation (NYSE:CE - Free Report) by 55.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,508 shares of the basic materials company's stock after purchasing an additional 11,905 shares during the quarter. Amalgamated Bank's holdings in Celanese were worth $1,902,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new position in Celanese during the 1st quarter valued at about $292,000. Sei Investments Co. grew its position in shares of Celanese by 91.8% in the fourth quarter. Sei Investments Co. now owns 126,660 shares of the basic materials company's stock valued at $8,766,000 after purchasing an additional 60,621 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Celanese during the 4th quarter worth approximately $7,168,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Celanese by 20.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,225 shares of the basic materials company's stock worth $2,397,000 after purchasing an additional 7,275 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Celanese during the 4th quarter valued at $3,118,000. Hedge funds and other institutional investors own 98.87% of the company's stock.

Analyst Ratings Changes

CE has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Celanese from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler reissued an "underweight" rating and set a $48.00 price objective (down from $50.00) on shares of Celanese in a research note on Monday, April 7th. BMO Capital Markets upgraded shares of Celanese from an "underperform" rating to a "market perform" rating and raised their price target for the company from $46.00 to $55.00 in a report on Tuesday, May 20th. Bank of America upped their target price on Celanese from $55.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $63.50.

Celanese Stock Performance

Shares of CE traded down $2.78 during midday trading on Monday, hitting $58.10. 1,624,895 shares of the stock traded hands, compared to its average volume of 2,289,924. Celanese Corporation has a 1-year low of $36.29 and a 1-year high of $147.86. The firm has a market capitalization of $6.36 billion, a PE ratio of -3.82, a price-to-earnings-growth ratio of 2.29 and a beta of 1.14. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.11 and a current ratio of 1.94. The business's 50 day moving average price is $53.51 and its two-hundred day moving average price is $56.86.

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

Celanese Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.21%. The ex-dividend date was Monday, April 28th. Celanese's payout ratio is currently -0.79%.

Insider Transactions at Celanese

In related news, SVP Mark Christopher Murray bought 1,479 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $52.18 per share, with a total value of $77,174.22. Following the purchase, the senior vice president owned 15,468 shares in the company, valued at approximately $807,120.24. This represents a 10.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company's stock.

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.