Teacher Retirement System of Texas Acquires Shares of 15,982 Celanese Corporation (NYSE:CE)

Teacher Retirement System of Texas acquired a new stake in shares of Celanese Corporation (NYSE:CE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,982 shares of the basic materials company's stock, valued at approximately $907,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CE. Altshuler Shaham Ltd acquired a new position in Celanese during the 4th quarter worth approximately $25,000. State of Wyoming increased its position in 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 period. LRI Investments LLC increased its position in 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 period. Mather Group LLC. increased its position in 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 period. Finally, American National Bank & Trust acquired a new position in Celanese during the 1st quarter worth approximately $40,000. 98.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CE has been the topic of a number of research reports. Barclays upped their price target on Celanese from $59.00 to $62.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. UBS Group upped their price target on Celanese from $51.00 to $66.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. KeyCorp upped their target price on Celanese from $76.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday. Piper Sandler reaffirmed an "underweight" rating and issued a $48.00 target price (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Finally, Bank of America upped their target price on Celanese from $55.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $65.72.

Celanese Stock Down 2.9%

Shares of Celanese stock opened at $59.25 on Tuesday. The business has a 50-day moving average of $55.08 and a 200-day moving average of $56.58. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.94 and a quick ratio of 1.11. The company has a market capitalization of $6.48 billion, a PE ratio of -3.89, a P/E/G ratio of 2.29 and a beta of 1.14. Celanese Corporation has a 1-year low of $36.29 and a 1-year high of $147.86.

Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a positive return on equity of 11.28% and a negative net margin of 16.54%. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. As a group, equities analysts forecast that Celanese Corporation will post 8.79 EPS for the current fiscal year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.20%. Celanese's dividend payout ratio is currently -0.79%.

Insider Transactions at Celanese

In other Celanese news, SVP Mark Christopher Murray bought 1,479 shares of the business's 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 completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.