860,744 Shares in Celanese Co. (NYSE:CE) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in shares of Celanese Co. (NYSE:CE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 860,744 shares of the basic materials company's stock, valued at approximately $59,572,000. Voloridge Investment Management LLC owned 0.79% of Celanese at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Woodline Partners LP acquired a new stake in Celanese during the fourth quarter valued at $454,000. Two Sigma Investments LP lifted its holdings in shares of Celanese by 1,221.2% during the 4th quarter. Two Sigma Investments LP now owns 81,770 shares of the basic materials company's stock valued at $5,659,000 after buying an additional 75,581 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Celanese by 6.8% in the 4th quarter. Tidal Investments LLC now owns 3,263 shares of the basic materials company's stock valued at $226,000 after buying an additional 209 shares in the last quarter. Teza Capital Management LLC acquired a new position in Celanese in the fourth quarter worth approximately $474,000. Finally, Turtle Creek Asset Management Inc. increased its holdings in Celanese by 266.7% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company's stock worth $242,681,000 after buying an additional 2,550,334 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.

Analysts Set New Price Targets

CE has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Celanese from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Evercore ISI reduced their price objective on shares of Celanese from $85.00 to $75.00 and set an "in-line" rating for the company in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group reduced their price target on Celanese from $60.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. 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 report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Celanese currently has a consensus rating of "Hold" and a consensus target price of $61.94.

Celanese Price Performance

Shares of CE stock traded down $1.10 during mid-day trading on Monday, reaching $52.46. The company's stock had a trading volume of 1,409,368 shares, compared to its average volume of 2,198,945. The firm's 50-day moving average is $48.11 and its two-hundred day moving average is $60.35. The company has a market cap of $5.74 billion, a P/E ratio of -3.77, a PEG ratio of 1.05 and a beta of 1.09. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $153.71. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34.

Celanese (NYSE:CE - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $2.26 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. On average, research analysts predict that Celanese Co. will post 8.79 earnings per share for the current year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors 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 annualized dividend and a dividend yield of 0.23%. Celanese's dividend payout ratio (DPR) is presently -0.79%.

Celanese 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.