Teza Capital Management LLC Buys New Stake in Celanese Co. (NYSE:CE)

Teza Capital Management LLC purchased a new position in shares of Celanese Co. (NYSE:CE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,844 shares of the basic materials company's stock, valued at approximately $474,000.

Several other hedge funds also recently bought and sold shares of CE. Focus Partners Wealth increased its position in Celanese by 3.9% during the 4th quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company's stock worth $291,000 after purchasing an additional 156 shares in the last quarter. United Capital Financial Advisors LLC boosted its stake in shares of Celanese by 2.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company's stock worth $427,000 after purchasing an additional 172 shares during the last quarter. CKW Financial Group grew its holdings in shares of Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after buying an additional 185 shares in the last quarter. Blue Trust Inc. raised its position in shares of Celanese by 15.0% in the fourth quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company's stock valued at $102,000 after buying an additional 192 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock valued at $26,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Celanese from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. dropped their target price on Celanese from $92.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. Evercore ISI decreased their price target on Celanese from $85.00 to $75.00 and set an "in-line" rating on the stock in a research note on Monday, March 24th. Mizuho set a $45.00 price target on Celanese in a report on Tuesday, April 15th. Finally, Alembic Global Advisors raised shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $61.44.

Celanese Stock Down 2.0%

Shares of NYSE CE opened at $52.43 on Tuesday. The stock has a fifty day moving average price of $48.40 and a 200 day moving average price of $61.64. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese Co. has a 12-month low of $36.29 and a 12-month high of $157.74. The company has a market cap of $5.73 billion, a P/E ratio of -3.76, a P/E/G ratio of 1.05 and a beta of 1.09.

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. The company 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 12.86% and a negative net margin of 14.81%. The company's revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. Research analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. Celanese's dividend payout ratio is currently -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.

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