Twelve Points Wealth Management LLC Buys 5,507 Shares of Celanese Corporation (NYSE:CE)

Twelve Points Wealth Management LLC lifted its holdings in shares of Celanese Corporation (NYSE:CE - Free Report) by 54.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,631 shares of the basic materials company's stock after acquiring an additional 5,507 shares during the period. Twelve Points Wealth Management LLC's holdings in Celanese were worth $887,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Celanese in the fourth quarter valued at about $25,000. State of Wyoming boosted its stake in Celanese by 122.5% in the fourth quarter. State of Wyoming now owns 485 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 267 shares during the last quarter. LRI Investments LLC lifted its stake in shares of Celanese by 739.1% during the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company's stock valued at $37,000 after buying an additional 473 shares in the last quarter. Mather Group LLC. lifted its stake in shares of Celanese by 127.0% during the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company's stock valued at $35,000 after buying an additional 348 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Celanese during the 1st quarter valued at approximately $40,000. 98.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Celanese from an "underperform" rating to a "market perform" rating and increased their target price for the stock from $46.00 to $55.00 in a research note on Tuesday, May 20th. Wells Fargo & Company upgraded shares of Celanese from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $45.00 to $66.00 in a research report on Monday, June 16th. Barclays raised their price objective on shares of Celanese from $59.00 to $62.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Evercore ISI lowered their price objective on shares of Celanese from $85.00 to $75.00 and set an "in-line" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Celanese has an average rating of "Hold" and an average target price of $65.33.

Insider Transactions at Celanese

In other news, SVP Mark Christopher Murray purchased 1,479 shares of the business's stock in a transaction on Friday, May 23rd. The shares were acquired at an average price of $52.18 per share, with a total value of $77,174.22. Following the acquisition, the senior vice president directly owned 15,468 shares in the company, valued at approximately $807,120.24. The trade was a 10.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Celanese Trading Up 2.7%

Celanese stock traded up $1.64 during trading hours on Thursday, reaching $62.41. The stock had a trading volume of 1,785,005 shares, compared to its average volume of 2,301,619. The stock has a market cap of $6.83 billion, a PE ratio of -4.10, a PEG ratio of 2.28 and a beta of 1.14. Celanese Corporation has a 52 week low of $36.29 and a 52 week high of $147.86. 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 fifty day simple moving average of $54.78 and a 200-day simple moving average of $56.80.

Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.20. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates 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 was down 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. Analysts forecast that Celanese Corporation will post 8.79 EPS for the current fiscal year.

Celanese Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Monday, April 28th. Celanese's dividend payout ratio (DPR) is presently -0.79%.

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.