Occudo Quantitative Strategies LP Purchases New Position in Celanese Co. (NYSE:CE)

Occudo Quantitative Strategies LP bought a new position in shares of Celanese Co. (NYSE:CE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,726 shares of the basic materials company's stock, valued at approximately $812,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox grew its stake 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 buying an additional 6,818,993 shares in the last quarter. Invesco Ltd. grew 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 worth $274,714,000 after buying an additional 2,033,025 shares during the last quarter. Norges Bank acquired a new position in Celanese during the 4th quarter worth $222,815,000. Geode Capital Management LLC lifted its holdings in shares of Celanese by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,679,670 shares of the basic materials company's stock valued at $184,998,000 after purchasing an additional 73,498 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised 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 valued at $162,274,000 after buying an additional 2,293,764 shares during the period. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CE. UBS Group cut their price objective on Celanese from $60.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company raised their target price on Celanese from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Alembic Global Advisors raised Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Mizuho set a $45.00 price objective on Celanese in a report on Tuesday, April 15th. Finally, Vertical Research raised Celanese from a "sell" rating to a "hold" rating and set a $66.00 price objective on the stock in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $61.44.

Celanese Trading Down 2.5%

Shares of Celanese stock traded down $1.32 on Monday, hitting $52.20. 319,600 shares of the company's stock traded hands, compared to its average volume of 2,170,437. Celanese Co. has a one year low of $36.29 and a one year high of $157.74. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The company has a fifty day moving average of $48.41 and a two-hundred day moving average of $62.15. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of -3.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

Celanese (NYSE:CE - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The company's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. As a group, sell-side analysts expect that Celanese Co. will post 8.79 earnings per share for the current year.

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Monday, April 28th. Celanese's payout ratio is currently -0.79%.

About Celanese

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.