Copperwynd Financial LLC Acquires Shares of 7,823 Celanese Corporation (NYSE:CE)

Copperwynd Financial LLC purchased a new position in Celanese Corporation (NYSE:CE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,823 shares of the basic materials company's stock, valued at approximately $444,000.

Several other institutional investors have also modified their holdings of CE. Altshuler Shaham Ltd acquired a new position in shares of Celanese in the fourth quarter worth $25,000. State of Wyoming lifted its position in shares of Celanese by 122.5% during the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company's stock worth $34,000 after purchasing an additional 267 shares during the last quarter. Mather Group LLC. lifted its position in shares of Celanese by 127.0% during the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company's stock worth $35,000 after purchasing an additional 348 shares during the last quarter. LRI Investments LLC lifted its position in shares of Celanese by 739.1% during the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company's stock worth $37,000 after purchasing an additional 473 shares during the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Celanese during the 1st quarter worth $40,000. Institutional investors and hedge funds own 98.87% of the company's stock.

Insider Activity

In related news, SVP Mark Christopher Murray purchased 1,479 shares of the business's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $52.18 per share, with a total value of $77,174.22. Following the completion of the purchase, the senior vice president directly owned 15,468 shares in the company, valued at approximately $807,120.24. This trade represents a 10.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CE. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Mizuho boosted their price target on shares of Celanese from $50.00 to $59.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. BMO Capital Markets raised shares of Celanese from an "underperform" rating to a "market perform" rating and boosted their price target for the company from $46.00 to $55.00 in a research report on Tuesday, May 20th. Evercore ISI reduced their price target 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. Finally, Piper Sandler reissued an "underweight" rating and issued a $48.00 price target (down from $50.00) on shares of Celanese in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $66.50.

Celanese Price Performance

CE traded down $1.15 on Friday, hitting $57.35. 1,810,331 shares of the company were exchanged, compared to its average volume of 2,326,233. 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 fifty day moving average is $55.96 and its 200 day moving average is $56.28. Celanese Corporation has a fifty-two week low of $36.29 and a fifty-two week high of $144.59. The firm has a market capitalization of $6.27 billion, a P/E ratio of -3.77, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14.

Celanese (NYSE:CE - Get Free Report) last issued its earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share for the quarter, topping 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 company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The firm's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celanese Corporation will post 8.79 EPS for the current year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 29th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Tuesday, July 29th. 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.