Aviva PLC grew its stake in Celanese Co. (NYSE:CE - Free Report) by 673.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,602 shares of the basic materials company's stock after buying an additional 57,124 shares during the period. Aviva PLC owned 0.06% of Celanese worth $4,540,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CE. UMB Bank n.a. grew its position in Celanese by 103.7% during the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock worth $26,000 after purchasing an additional 194 shares during the last quarter. CKW Financial Group grew its holdings in shares of Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after buying an additional 185 shares during the last quarter. CENTRAL TRUST Co increased its position in Celanese by 43.2% in the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 202 shares during the period. EverSource Wealth Advisors LLC raised its stake in Celanese by 200.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 498 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in Celanese by 51.1% during the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company's stock worth $78,000 after acquiring an additional 382 shares during the period. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Celanese from $55.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on Celanese from $100.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Piper Sandler reaffirmed an "underweight" rating and set a $48.00 price objective (down previously from $50.00) on shares of Celanese in a report on Monday, April 7th. Citigroup cut their price objective on Celanese from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Finally, Alembic Global Advisors upgraded shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.61.
Read Our Latest Stock Report on CE
Celanese Stock Down 1.0 %
Shares of Celanese stock traded down $0.40 during trading on Tuesday, reaching $38.79. The stock had a trading volume of 446,521 shares, compared to its average volume of 1,945,101. 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 company has a market capitalization of $4.24 billion, a price-to-earnings ratio of -2.78, a P/E/G ratio of 1.05 and a beta of 1.08. Celanese Co. has a 52 week low of $36.29 and a 52 week high of $169.50. The stock has a fifty day moving average price of $54.37 and a two-hundred day moving average price of $76.71.
Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings data 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 positive return on equity of 12.86% and a negative net margin of 14.81%. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. Sell-side analysts predict that Celanese Co. will post 8.79 EPS for the current fiscal year.
Celanese Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. Celanese's payout ratio is -0.86%.
Celanese Profile
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Free Report)
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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