White Knight Strategic Wealth Advisors LLC bought a new position in Celanese Co. (NYSE:CE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,740 shares of the basic materials company's stock, valued at approximately $536,000.
A number of other institutional investors have also recently added to or reduced their stakes in CE. Dodge & Cox boosted its holdings in shares of Celanese by 100.3% in the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company's stock worth $942,506,000 after buying an additional 6,818,993 shares during the period. Norges Bank acquired a new position in Celanese in the 4th quarter worth approximately $222,815,000. Turtle Creek Asset Management Inc. grew its position in 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 purchasing an additional 2,550,334 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Celanese by 4,506.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,344,661 shares of the basic materials company's stock worth $162,274,000 after purchasing an additional 2,293,764 shares in the last quarter. Finally, Invesco Ltd. raised its stake 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 period. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Celanese Price Performance
Shares of NYSE:CE traded down $1.10 during midday trading on Monday, hitting $52.46. The stock had a trading volume of 1,409,368 shares, compared to its average volume of 2,198,945. The company's 50-day moving average price is $48.11 and its 200-day moving average price is $60.35. The company has a market capitalization of $5.74 billion, a P/E ratio of -3.77, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. Celanese Co. has a fifty-two week low of $36.29 and a fifty-two week high of $153.71. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98.
Celanese (NYSE:CE - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) 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 analyst estimates 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 quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.08 EPS. As a group, equities research analysts predict that Celanese Co. will post 8.79 EPS for the current fiscal year.
Celanese Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, April 28th were paid a $0.03 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.12 annualized dividend and a yield of 0.23%. Celanese's payout ratio is -0.79%.
Analyst Ratings Changes
CE has been the topic of several research analyst reports. Citigroup lowered their target price on Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. KeyCorp boosted their price objective on shares of Celanese from $71.00 to $76.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Barclays lifted their target price on shares of Celanese from $59.00 to $62.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded shares of Celanese from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Mizuho set a $45.00 price objective on Celanese in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $61.94.
Check Out Our Latest Research Report on CE
About Celanese
(
Free Report)
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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