Celanese Co. (NYSE:CE) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Celanese Co. (NYSE:CE - Free Report) by 4,300.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,892 shares of the basic materials company's stock after acquiring an additional 203,168 shares during the quarter. GAMMA Investing LLC owned about 0.19% of Celanese worth $11,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dodge & Cox raised its stake in Celanese by 100.3% during the 4th 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. raised its stake in Celanese by 105.0% during the 4th 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. raised its stake in Celanese by 266.7% during the 4th 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 stake in Celanese during the 4th quarter worth $222,815,000. Finally, Geode Capital Management LLC raised its stake in Celanese by 2.8% during the 4th 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. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Celanese

In related news, SVP Mark Christopher Murray purchased 1,479 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $52.18 per share, with a total value of $77,174.22. Following the completion of the transaction, the senior vice president now owns 15,468 shares of the company's stock, valued at approximately $807,120.24. This trade represents a 10.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company's stock.

Celanese Price Performance

CE stock traded up $0.88 during trading on Friday, reaching $55.40. 1,078,405 shares of the company were exchanged, compared to its average volume of 2,227,885. The company has a market cap of $6.06 billion, a P/E ratio of -3.98, a PEG ratio of 1.05 and a beta of 1.13. Celanese Co. has a 52-week low of $36.29 and a 52-week high of $150.31. The stock's 50 day moving average price is $47.37 and its 200 day moving average price is $59.06. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34.

Celanese (NYSE:CE - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The firm's revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. As a group, analysts predict that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders 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 was Monday, April 28th. Celanese's dividend payout ratio (DPR) is presently -0.79%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Mizuho set a $45.00 price objective on shares of Celanese in a research note on Tuesday, April 15th. Alembic Global Advisors upgraded shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. Bank of America lifted their price objective on shares of Celanese from $55.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. dropped their price objective on shares of Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Finally, Piper Sandler restated an "underweight" rating and issued a $48.00 price objective (down from $50.00) on shares of Celanese in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Celanese has an average rating of "Hold" and a consensus target price of $61.94.

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.