Envestnet Asset Management Inc. Has $4.08 Million Stock Holdings in Celanese Corporation (NYSE:CE)

Envestnet Asset Management Inc. trimmed its holdings in shares of Celanese Corporation (NYSE:CE - Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,879 shares of the basic materials company's stock after selling 20,131 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Celanese worth $4,081,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in shares of Celanese in the fourth quarter valued at about $25,000. State of Wyoming lifted its position in shares of Celanese by 122.5% in the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company's stock worth $34,000 after acquiring an additional 267 shares during the period. Mather Group LLC. grew its holdings 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 in the last quarter. LRI Investments LLC increased its position in shares of Celanese by 739.1% during the fourth quarter. LRI Investments LLC now owns 537 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 473 shares during the period. Finally, American National Bank & Trust acquired a new position in shares of Celanese in the first quarter valued at $40,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Stock Up 2.7%

NYSE CE opened at $58.66 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 2.20. Celanese Corporation has a 1-year low of $36.29 and a 1-year high of $144.59. The company has a 50 day moving average of $56.48 and a 200-day moving average of $56.07. The company has a market cap of $6.42 billion, a price-to-earnings ratio of -3.85, a PEG ratio of 2.14 and a beta of 1.14.

Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.39 billion for 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%. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. On average, equities research analysts expect that Celanese Corporation will post 8.79 earnings per share for the current fiscal year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Tuesday, July 29th. Celanese's payout ratio is presently -0.79%.

Analysts Set New Price Targets

Several brokerages have issued reports on CE. Wall Street Zen raised shares of Celanese from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $63.00 target price (up from $53.00) on shares of Celanese in a research report on Thursday, July 3rd. Bank of America lifted their target price on shares of Celanese from $55.00 to $61.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company lifted their price objective on Celanese from $66.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, KeyCorp upped their price objective on Celanese from $76.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $66.50.

Insider Activity at Celanese

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

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.

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