Wealthfront Advisers LLC Has $5.03 Million Stock Position in Celanese Corporation (NYSE:CE)

Wealthfront Advisers LLC boosted its position in Celanese Corporation (NYSE:CE - Free Report) by 2,578.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,564 shares of the basic materials company's stock after purchasing an additional 85,258 shares during the quarter. Wealthfront Advisers LLC owned about 0.08% of Celanese worth $5,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dodge & Cox increased its position 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 acquiring an additional 6,818,993 shares during the last quarter. Invesco Ltd. raised its position in Celanese by 105.0% during the 4th 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. Turtle Creek Asset Management Inc. grew its holdings in shares of Celanese by 266.7% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company's stock worth $242,681,000 after acquiring an additional 2,550,334 shares during the period. Norges Bank purchased a new stake in shares of Celanese in the 4th quarter worth approximately $222,815,000. Finally, Geode Capital Management LLC lifted its position in 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 acquiring an additional 73,498 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors.

Celanese Trading Up 2.9%

CE stock opened at $58.59 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 2.20. The business has a fifty day simple moving average of $55.84 and a 200-day simple moving average of $56.46. The company has a market cap of $6.41 billion, a price-to-earnings ratio of -3.85, a PEG ratio of 2.14 and a beta of 1.14. Celanese Corporation has a 52 week low of $36.29 and a 52 week high of $147.32.

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. 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 analysts' expectations of $2.26 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts expect that Celanese Corporation will post 8.79 EPS for the current year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Tuesday, July 29th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, July 29th. This represents a $0.12 annualized dividend and a yield of 0.20%. Celanese's payout ratio is currently -0.79%.

Analysts Set New Price Targets

A number of brokerages recently commented on CE. Wall Street Zen raised shares of Celanese from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. UBS Group increased their price target on shares of Celanese from $51.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Barclays increased their target price 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. Royal Bank Of Canada reiterated a "sector perform" rating and set a $63.00 price target (up from $53.00) on shares of Celanese in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Celanese from $66.00 to $72.00 and gave the company an "overweight" rating in a report on Monday. 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 stock. According to MarketBeat.com, Celanese presently has an average rating of "Hold" and a consensus target price of $66.50.

Insiders Place Their Bets

In related news, SVP Mark Christopher Murray acquired 1,479 shares of Celanese stock in a transaction on Friday, May 23rd. The shares were 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 owned 15,468 shares in the company, valued at $807,120.24. This trade represents a 10.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate insiders.

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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