Celanese Co. (NYSE:CE) Stock Holdings Boosted by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its stake in Celanese Co. (NYSE:CE - Free Report) by 909.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,650 shares of the basic materials company's stock after acquiring an additional 30,318 shares during the period. Achmea Investment Management B.V.'s holdings in Celanese were worth $2,329,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CE. State Street Corp raised its holdings in Celanese by 3.1% in the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company's stock valued at $611,931,000 after buying an additional 136,994 shares during the period. KBC Group NV raised its holdings in Celanese by 155.5% in the third quarter. KBC Group NV now owns 213,657 shares of the basic materials company's stock valued at $29,049,000 after buying an additional 130,037 shares during the period. Zacks Investment Management raised its holdings in Celanese by 6.5% in the third quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company's stock valued at $21,814,000 after buying an additional 9,782 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Celanese by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company's stock valued at $134,723,000 after buying an additional 69,606 shares during the period. Finally, Sanctuary Advisors LLC raised its holdings in Celanese by 5.1% in the fourth quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company's stock valued at $521,000 after buying an additional 351 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

CE has been the topic of several research reports. Piper Sandler cut their price target on shares of Celanese from $77.00 to $50.00 and set an "underweight" rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada lowered shares of Celanese from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $84.00 to $56.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price target on shares of Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. UBS Group dropped their price objective on shares of Celanese from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Finally, Vertical Research upgraded shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 price objective on the stock in a research note on Thursday, March 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $72.18.

Celanese Stock Performance

CE stock traded down $1.26 during trading on Wednesday, hitting $57.26. 1,672,860 shares of the company's stock traded hands, compared to its average volume of 3,102,068. 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 52 week low of $45.94 and a 52 week high of $172.16. The stock has a fifty day moving average price of $63.31 and a two-hundred day moving average price of $87.72. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -4.11, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE - Get Free Report) last released its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. As a group, equities analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.21%. Celanese's payout ratio is -0.86%.

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.