Twelve Points Wealth Management LLC Increases Stock Holdings in Celanese Corporation (NYSE:CE)

Twelve Points Wealth Management LLC raised its stake in shares of Celanese Corporation (NYSE:CE - Free Report) by 54.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,631 shares of the basic materials company's stock after buying an additional 5,507 shares during the period. Twelve Points Wealth Management LLC's holdings in Celanese were worth $887,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of Celanese by 123.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,194 shares of the basic materials company's stock valued at $152,000 after purchasing an additional 1,211 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Celanese by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,757 shares of the basic materials company's stock valued at $71,823,000 after buying an additional 46,856 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Celanese in the 4th quarter worth $3,118,000. Arizona State Retirement System lifted its position in Celanese by 1.4% during the 4th quarter. Arizona State Retirement System now owns 31,736 shares of the basic materials company's stock worth $2,196,000 after acquiring an additional 444 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Celanese during the 4th quarter worth $7,168,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Trading Down 2.2%

Shares of NYSE:CE traded down $1.37 during mid-day trading on Friday, reaching $61.02. 814,034 shares of the company's stock were exchanged, compared to its average volume of 2,295,692. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.11 and a current ratio of 1.94. Celanese Corporation has a twelve month low of $36.29 and a twelve month high of $147.86. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of -4.01, a PEG ratio of 2.28 and a beta of 1.14. The business's fifty day moving average price is $54.78 and its 200-day moving average price is $56.80.

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

Celanese Announces Dividend

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

Insider Activity

In other news, SVP Mark Christopher Murray bought 1,479 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average cost of $52.18 per share, with a total value of $77,174.22. Following the transaction, the senior vice president directly owned 15,468 shares of the company's stock, valued at approximately $807,120.24. This represents a 10.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CE shares. Wells Fargo & Company raised shares of Celanese from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $45.00 to $66.00 in a research report on Monday, June 16th. Barclays boosted their price objective on shares of Celanese from $59.00 to $62.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Citigroup upped their price objective on shares of Celanese from $52.00 to $65.00 and gave the company a "neutral" rating in a research report on Thursday. Alembic Global Advisors raised Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Finally, Evercore ISI cut their price target on Celanese from $85.00 to $75.00 and set an "in-line" rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $65.33.

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.