Redwood Investment Management LLC Acquires New Holdings in Celanese Co. (NYSE:CE)

Redwood Investment Management LLC purchased a new stake in shares of Celanese Co. (NYSE:CE - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 26,116 shares of the basic materials company's stock, valued at approximately $1,807,000.

Other institutional investors have also recently made changes to their positions in the company. Dodge & Cox increased its stake in Celanese by 100.3% in the 4th quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company's stock worth $942,506,000 after acquiring an additional 6,818,993 shares during the last quarter. Norges Bank bought a new stake in Celanese during the fourth quarter valued at approximately $222,815,000. Fuller & Thaler Asset Management Inc. grew its stake in Celanese by 4,506.7% in 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 buying an additional 2,293,764 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Celanese by 105.0% in 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. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Celanese by 891.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,521,564 shares of the basic materials company's stock valued at $105,308,000 after buying an additional 1,368,104 shares in the last quarter. Institutional investors own 98.87% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CE shares. UBS Group reduced their target price on Celanese from $60.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Vertical Research upgraded Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price for the company in a research report on Thursday, March 6th. Citigroup reduced their price target on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. BMO Capital Markets decreased their price target on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. Finally, Alembic Global Advisors raised shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.06.

Celanese Stock Performance

Celanese stock opened at $52.22 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm has a market cap of $5.71 billion, a P/E ratio of -3.75, a P/E/G ratio of 1.05 and a beta of 1.09. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $158.60. The firm has a 50-day moving average of $48.43 and a 200-day moving average of $63.54.

Celanese (NYSE:CE - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business posted $2.08 EPS. The business's revenue was down 8.5% on a year-over-year basis. Sell-side analysts expect that Celanese Co. will post 8.79 EPS for the current year.

Celanese Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were issued 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 dividend payout ratio (DPR) is presently -0.79%.

Celanese 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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