Graham Capital Management L.P. acquired a new stake in shares of Celanese Co. (NYSE:CE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,076 shares of the basic materials company's stock, valued at approximately $2,012,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Focus Partners Wealth grew its position in Celanese by 3.9% during the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company's stock valued at $291,000 after buying an additional 156 shares during the period. United Capital Financial Advisors LLC raised its stake in Celanese by 2.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company's stock valued at $427,000 after purchasing an additional 172 shares during the last quarter. CKW Financial Group lifted its stake in shares of Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after buying an additional 185 shares in the last quarter. Blue Trust Inc. grew its stake in Celanese by 15.0% during the 4th quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company's stock valued at $102,000 after acquiring an additional 192 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Celanese by 103.7% in the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.
Celanese Stock Down 0.5%
Shares of NYSE CE traded down $0.28 during mid-day trading on Thursday, hitting $52.22. The company had a trading volume of 1,749,037 shares, compared to its average volume of 2,162,144. The company has a market capitalization of $5.71 billion, a PE ratio of -3.75, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09. The business's 50-day simple moving average is $48.47 and its 200 day simple moving average is $64.08. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $161.44. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76.
Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings results 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. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $2.08 EPS. Celanese's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts predict that Celanese Co. will post 8.79 earnings per share for the current year.
Celanese Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were issued a $0.03 dividend. The ex-dividend date was Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. Celanese's payout ratio is -0.79%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Robert W. Baird dropped their price target on Celanese from $110.00 to $67.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Bank of America cut their target price on Celanese from $88.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, February 24th. KeyCorp boosted their price target 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. Vertical Research upgraded shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 price objective for the company in a research report on Thursday, March 6th. Finally, BMO Capital Markets decreased their target price on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $62.06.
Read Our Latest Stock Analysis on CE
Celanese Profile
(
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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