Telemus Capital LLC Cuts Stock Position in Celanese Co. (NYSE:CE)

Posted by Darlene League on Mar 19th, 2023

Telemus Capital LLC trimmed its position in shares of Celanese Co. (NYSE:CE – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,125 shares of the basic materials company’s stock after selling 551 shares during the period. Telemus Capital LLC’s holdings in Celanese were worth $6,312,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Moody National Bank Trust Division acquired a new position in Celanese during the 4th quarter worth $213,000. Accurate Wealth Management LLC acquired a new position in shares of Celanese in the 4th quarter valued at about $200,000. Coldstream Capital Management Inc. acquired a new position in shares of Celanese in the 4th quarter valued at about $280,000. Gradient Investments LLC boosted its holdings in shares of Celanese by 28.7% in the 4th quarter. Gradient Investments LLC now owns 148,017 shares of the basic materials company’s stock valued at $15,133,000 after buying an additional 33,018 shares during the period. Finally, New England Research & Management Inc. boosted its holdings in shares of Celanese by 159.1% in the 4th quarter. New England Research & Management Inc. now owns 14,250 shares of the basic materials company’s stock valued at $1,457,000 after buying an additional 8,750 shares during the period. 92.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Celanese

In other news, SVP Mark Christopher Murray bought 1,200 shares of the company’s stock in a transaction dated Tuesday, February 28th. The shares were acquired at an average cost of $117.15 per share, with a total value of $140,580.00. Following the completion of the transaction, the senior vice president now directly owns 10,589 shares in the company, valued at approximately $1,240,501.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Bank of America assumed coverage on shares of Celanese in a report on Wednesday, March 1st. They issued a “buy” rating and a $140.00 price target for the company. Piper Sandler lifted their price target on shares of Celanese from $100.00 to $105.00 in a report on Tuesday, March 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Celanese from $105.00 to $135.00 and gave the company a “buy” rating in a report on Monday, February 27th. Citigroup lifted their price target on shares of Celanese from $111.00 to $121.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Finally, Credit Suisse Group lifted their price target on shares of Celanese from $83.00 to $100.00 and gave the company an “underperform” rating in a report on Friday, February 24th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $127.38.

Celanese Stock Down 1.3 %

NYSE CE opened at $103.00 on Friday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.63 and a quick ratio of 0.93. The company’s 50 day simple moving average is $118.44 and its 200 day simple moving average is $106.80. Celanese Co. has a 12 month low of $86.71 and a 12 month high of $161.37. The company has a market capitalization of $11.17 billion, a P/E ratio of 5.93, a PEG ratio of 5.61 and a beta of 1.31.

Celanese (NYSE:CE – Get Rating) last released its earnings results on Friday, February 24th. The basic materials company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.12). Celanese had a return on equity of 32.15% and a net margin of 19.58%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned $4.91 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts expect that Celanese Co. will post 11.63 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Friday, February 17th. Celanese’s dividend payout ratio (DPR) is currently 16.12%.

About Celanese

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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.