Mariner LLC lowered its position in shares of Celanese Co. (NYSE:CE - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,529 shares of the basic materials company's stock after selling 7,305 shares during the period. Mariner LLC's holdings in Celanese were worth $2,459,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Celanese by 25.1% during the fourth quarter. Barclays PLC now owns 352,412 shares of the basic materials company's stock worth $24,391,000 after purchasing an additional 70,703 shares in the last quarter. Townsquare Capital LLC boosted its stake in Celanese by 102.4% in the fourth quarter. Townsquare Capital LLC now owns 6,461 shares of the basic materials company's stock valued at $447,000 after acquiring an additional 3,269 shares in the last quarter. Covestor Ltd boosted its stake in Celanese by 23.9% in the fourth quarter. Covestor Ltd now owns 1,607 shares of the basic materials company's stock valued at $111,000 after acquiring an additional 310 shares in the last quarter. LSV Asset Management acquired a new position in Celanese in the fourth quarter valued at $637,000. Finally, Raymond James Financial Inc. acquired a new position in Celanese in the fourth quarter valued at $7,168,000. Institutional investors and hedge funds own 98.87% of the company's stock.
Celanese Price Performance
Shares of Celanese stock traded up $0.27 during trading on Monday, reaching $43.80. The company's stock had a trading volume of 2,875,886 shares, compared to its average volume of 2,027,299. 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 Co. has a 12-month low of $36.29 and a 12-month high of $169.50. The company has a market capitalization of $4.79 billion, a P/E ratio of -3.14, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08. The business has a 50 day moving average price of $49.28 and a 200-day moving average price of $70.16.
Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. As a group, sell-side analysts anticipate that Celanese Co. will post 8.79 EPS for the current year.
Celanese Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Monday, April 28th. Celanese's dividend payout ratio (DPR) is -0.86%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on CE shares. Citigroup decreased their price objective on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Piper Sandler restated an "underweight" rating and issued a $48.00 price objective (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Robert W. Baird decreased their price objective on shares of Celanese from $110.00 to $67.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. KeyCorp decreased their price objective on shares of Celanese from $76.00 to $71.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Mizuho set a $45.00 target price on shares of Celanese in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Celanese has a consensus rating of "Hold" and an average target price of $61.33.
Read Our Latest Stock Report on CE
Celanese Company 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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