Wealth Enhancement Advisory Services LLC Has $2.40 Million Stock Position in Celanese Corporation (NYSE:CE)

Wealth Enhancement Advisory Services LLC grew its position in Celanese Corporation (NYSE:CE - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,225 shares of the basic materials company's stock after buying an additional 7,275 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Celanese were worth $2,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CE. Focus Partners Wealth lifted its position in shares of Celanese by 3.9% in the fourth 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 lifted its position in shares of Celanese by 2.9% in the fourth 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 in the last quarter. Tidal Investments LLC lifted its position in shares of Celanese by 6.8% in the fourth quarter. Tidal Investments LLC now owns 3,263 shares of the basic materials company's stock worth $226,000 after purchasing an additional 209 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Celanese by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 13,442 shares of the basic materials company's stock worth $924,000 after purchasing an additional 242 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Celanese by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 14,024 shares of the basic materials company's stock valued at $971,000 after acquiring an additional 251 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Celanese news, SVP Mark Christopher Murray purchased 1,479 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $52.18 per share, for a total transaction of $77,174.22. Following the completion of the purchase, the senior vice president now directly owns 15,468 shares of the company's stock, valued at approximately $807,120.24. This represents a 10.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Celanese Trading Up 0.6%

Shares of CE stock opened at $56.87 on Friday. Celanese Corporation has a 1 year low of $36.29 and a 1 year high of $147.86. The firm's fifty day simple moving average is $51.78 and its 200 day simple moving average is $57.25. The firm has a market capitalization of $6.22 billion, a P/E ratio of -3.74, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 2.20.

Celanese (NYSE:CE - Get Free Report) last announced its 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. Celanese had a negative net margin of 16.54% and a positive return on equity of 11.28%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Celanese's revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Celanese Corporation will post 8.79 EPS 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. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Monday, April 28th. Celanese's dividend payout ratio (DPR) is currently -0.79%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CE. Mizuho set a $45.00 price objective on shares of Celanese in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Celanese from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. BMO Capital Markets raised shares of Celanese from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $46.00 to $55.00 in a research report on Tuesday, May 20th. Piper Sandler reissued an "underweight" rating and issued a $48.00 price target (down previously from $50.00) on shares of Celanese in a research report on Monday, April 7th. Finally, Vertical Research raised shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 price target on the stock in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Celanese has an average rating of "Hold" and a consensus target price of $63.11.

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.

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