Toronto Dominion Bank Buys 10,798 Shares of Celanese Co. (NYSE:CE)

Toronto Dominion Bank raised its position in shares of Celanese Co. (NYSE:CE - Free Report) by 22.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,476 shares of the basic materials company's stock after purchasing an additional 10,798 shares during the period. Toronto Dominion Bank owned 0.05% of Celanese worth $4,047,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Dodge & Cox increased its holdings in shares of Celanese by 100.3% during the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company's stock valued at $942,506,000 after purchasing an additional 6,818,993 shares during the period. Invesco Ltd. lifted its stake in Celanese by 105.0% during the fourth quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company's stock valued at $274,714,000 after purchasing an additional 2,033,025 shares during the last quarter. Norges Bank bought a new stake in shares of Celanese during the 4th quarter worth $222,815,000. Geode Capital Management LLC boosted its position in shares of Celanese by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,679,670 shares of the basic materials company's stock valued at $184,998,000 after purchasing an additional 73,498 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Celanese by 4,506.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,344,661 shares of the basic materials company's stock worth $162,274,000 after acquiring an additional 2,293,764 shares in the last quarter. Institutional investors own 98.87% of the company's stock.

Celanese Price Performance

NYSE CE traded down $0.89 during trading hours on Wednesday, reaching $54.28. 210,555 shares of the company's stock were exchanged, compared to its average volume of 2,192,003. Celanese Co. has a one year low of $36.29 and a one year high of $153.71. The stock has a market cap of $5.94 billion, a PE ratio of -3.90, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm has a fifty day moving average of $47.98 and a 200-day moving average of $60.09.

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 for the quarter, beating the consensus estimate of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $2.08 earnings per share. Celanese's revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts predict that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were given 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 0.22%. Celanese's dividend payout ratio is -0.79%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CE shares. Alembic Global Advisors upgraded Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 target price for the company in a report on Monday, March 17th. Bank of America upped their target price on Celanese from $55.00 to $61.00 and gave the company a "buy" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Barclays lifted their price objective on Celanese from $59.00 to $62.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler reaffirmed an "underweight" rating and issued a $48.00 target price (down from $50.00) on shares of Celanese in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.94.

About Celanese

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.