XTX Topco Ltd Has $277,000 Stake in Celanese Corporation (NYSE:CE)

Key Points

• XTX Topco Ltd reduced its stake in Celanese Corporation by 52.1% in the first quarter, holding 4,883 shares valued at $277,000 at the quarter's end.
• Several hedge funds have significantly increased their positions in Celanese during the fourth quarter, including Dodge & Cox, which grew its stake by 100.3% to own over 13 million shares valued at approximately $942 million.
• The company recently announced a quarterly dividend of $0.03 per share, yielding 0.3%, alongside reporting a negative net margin of 16.54% for the previous quarter.

XTX Topco Ltd trimmed its holdings in shares of Celanese Corporation (NYSE:CE - Free Report) by 52.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,883 shares of the basic materials company's stock after selling 5,310 shares during the quarter. XTX Topco Ltd's holdings in Celanese were worth $277,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CE. Dodge & Cox grew its position 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 valued at $942,506,000 after purchasing an additional 6,818,993 shares during the last quarter. Turtle Creek Asset Management Inc. grew its position in shares of 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 valued at $242,681,000 after purchasing an additional 2,550,334 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Celanese by 4,506.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,344,661 shares of the basic materials company's stock worth $162,274,000 after buying an additional 2,293,764 shares in the last quarter. Federated Hermes Inc. grew its position in Celanese by 9,132.0% during the first quarter. Federated Hermes Inc. now owns 1,801,349 shares of the basic materials company's stock worth $102,263,000 after buying an additional 1,781,837 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Celanese by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,599,615 shares of the basic materials company's stock worth $110,704,000 after buying an additional 275,488 shares in the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Mark Christopher Murray purchased 1,479 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought 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 of the company's stock, valued at approximately $807,120.24. This represents 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 this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CE has been the topic of a number of recent research reports. Wall Street Zen raised Celanese from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company lifted their target price on Celanese from $66.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank of America lifted their target price on Celanese from $55.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Royal Bank Of Canada reissued a "sector perform" rating and set a $63.00 target price (up from $53.00) on shares of Celanese in a research report on Thursday, July 3rd. Finally, Citigroup lifted their target price on Celanese from $52.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. 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 MarketBeat, the company presently has an average rating of "Hold" and an average price target of $66.50.

Celanese Price Performance

CE opened at $47.23 on Tuesday. The company has a fifty day moving average price of $55.94 and a two-hundred day moving average price of $54.36. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.11 and a current ratio of 1.94. Celanese Corporation has a 52 week low of $36.29 and a 52 week high of $142.54. The firm has a market capitalization of $5.17 billion, a PE ratio of -3.10, a P/E/G ratio of 1.80 and a beta of 1.10.

Celanese (NYSE:CE - Get Free Report) last released its earnings results on Monday, August 11th. The basic materials company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.06. Celanese had a negative net margin of 16.54% and a positive return on equity of 11.28%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $2.38 EPS. The business's quarterly revenue was down 4.5% compared to the same quarter last year. As a group, analysts anticipate that Celanese Corporation will post 8.79 earnings per share for the current year.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Tuesday, July 29th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, July 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Celanese's payout ratio is -0.79%.

Celanese Company 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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