Fifth Third Bancorp Has $571,000 Stock Holdings in Celanese Corporation (NYSE:CE)

Fifth Third Bancorp grew its stake in shares of Celanese Corporation (NYSE:CE - Free Report) by 115.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,060 shares of the basic materials company's stock after purchasing an additional 5,397 shares during the period. Fifth Third Bancorp's holdings in Celanese were worth $571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Focus Partners Wealth boosted its position in shares of Celanese by 3.9% in the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company's stock worth $291,000 after buying an additional 156 shares during the period. United Capital Financial Advisors LLC lifted its stake in Celanese by 2.9% in the 4th 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 boosted its position in Celanese by 6.8% during the 4th 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 during the period. Van ECK Associates Corp grew its position in Celanese by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 21,239 shares of the basic materials company's stock valued at $1,470,000 after purchasing an additional 230 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Celanese by 1.8% in 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 during the last quarter. Institutional investors and hedge funds own 98.87% of the company's stock.

Celanese Price Performance

Shares of Celanese stock traded down $0.08 during trading on Wednesday, hitting $54.40. 1,527,061 shares of the company's stock traded hands, compared to its average volume of 2,253,953. The company has a market cap of $5.95 billion, a PE ratio of -3.57, a PEG ratio of 2.15 and a beta of 1.13. The firm's fifty day moving average price is $49.23 and its 200 day moving average price is $58.13. Celanese Corporation has a twelve month low of $36.29 and a twelve month high of $147.86. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.94 and a quick ratio of 1.11.

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

Celanese Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Monday, April 28th. Celanese's payout ratio is -0.79%.

Insider Buying and Selling

In related news, SVP Mark Christopher Murray bought 1,479 shares of the company's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $52.18 per share, with a total value of $77,174.22. Following the completion of the purchase, the senior vice president now owns 15,468 shares in the company, valued at approximately $807,120.24. The trade was a 10.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CE has been the subject of several analyst reports. Mizuho set a $45.00 price objective on shares of Celanese in a research note on Tuesday, April 15th. Royal Bank Of Canada cut Celanese from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $84.00 to $56.00 in a research report on Thursday, February 20th. Evercore ISI lowered their price objective on Celanese from $85.00 to $75.00 and set an "in-line" rating on the stock in a report on Monday, March 24th. Piper Sandler restated an "underweight" rating and issued a $48.00 target price (down from $50.00) on shares of Celanese in a report on Monday, April 7th. Finally, Vertical Research raised Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price for the company in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.11.

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.