Royal Harbor Partners LLC lifted its holdings in Celanese Co. (NYSE:CE) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,932 shares of the basic materials company’s stock after acquiring an additional 131 shares during the quarter. Royal Harbor Partners LLC’s holdings in Celanese were worth $1,188,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CE. Vantage Consulting Group Inc acquired a new stake in Celanese during the fourth quarter valued at $31,000. Perigon Wealth Management LLC acquired a new stake in shares of Celanese in the fourth quarter worth about $41,000. Ellevest Inc. lifted its position in shares of Celanese by 264.8% in the fourth quarter. Ellevest Inc. now owns 321 shares of the basic materials company’s stock worth $42,000 after buying an additional 233 shares during the last quarter. Kinloch Capital LLC acquired a new stake in shares of Celanese in the fourth quarter worth about $44,000. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Celanese in the fourth quarter worth about $71,000. 97.51% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on CE. KeyCorp boosted their price target on Celanese from $158.00 to $183.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. BMO Capital Markets raised Celanese from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $119.00 to $155.00 in a research report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Celanese from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, March 31st. Morgan Stanley lifted their price objective on Celanese from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 1st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Celanese in a research note on Tuesday, April 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.74.
Shares of CE stock traded up $1.51 during trading hours on Monday, hitting $153.84. The company had a trading volume of 13,738 shares, compared to its average volume of 874,913. Celanese Co. has a 12 month low of $69.69 and a 12 month high of $155.62. The firm has a market capitalization of $17.56 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 2.43 and a beta of 1.21. The firm’s fifty day moving average is $145.85 and its 200 day moving average is $130.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 1.15.
Celanese (NYSE:CE) last released its quarterly earnings data on Wednesday, January 27th. The basic materials company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.37. Celanese had a return on equity of 31.41% and a net margin of 10.46%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $1.99 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Celanese Co. will post 7.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 23rd. Stockholders of record on Tuesday, February 9th were paid a $0.68 dividend. This is a positive change from Celanese’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Monday, February 8th. Celanese’s dividend payout ratio is currently 28.54%.
In other news, Director John K. Wulff sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $133.55, for a total value of $100,162.50. Following the sale, the director now directly owns 17,221 shares in the company, valued at approximately $2,299,864.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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