Celanese Co. (NYSE:CE) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in shares of Celanese Co. (NYSE:CE - Free Report) by 2,827.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 252,091 shares of the basic materials company's stock after buying an additional 243,479 shares during the quarter. Bank of Nova Scotia owned approximately 0.23% of Celanese worth $17,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CE. UMB Bank n.a. boosted its stake in shares of Celanese by 103.7% during the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 194 shares during the last quarter. CKW Financial Group lifted its holdings in Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 185 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock worth $46,000 after purchasing an additional 202 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Celanese by 200.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock worth $52,000 after buying an additional 498 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Celanese by 51.1% in the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 382 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

Several research firms recently issued reports on CE. Robert W. Baird decreased their target price on shares of Celanese from $110.00 to $67.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada cut shares of Celanese from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $84.00 to $56.00 in a research note on Thursday, February 20th. KeyCorp cut their target price on Celanese from $76.00 to $71.00 and set an "overweight" rating on the stock in a research report on Monday. BMO Capital Markets dropped their price target on Celanese from $73.00 to $46.00 and set an "underperform" rating for the company in a research note on Thursday, February 20th. Finally, Morgan Stanley cut their price objective on Celanese from $100.00 to $80.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Celanese has an average rating of "Hold" and an average price target of $63.61.

Celanese Stock Down 1.1 %

CE traded down $0.44 on Tuesday, reaching $38.75. The company's stock had a trading volume of 575,641 shares, compared to its average volume of 3,530,536. The business's 50 day moving average is $54.37 and its 200 day moving average is $76.71. Celanese Co. has a 1 year low of $36.29 and a 1 year high of $169.49. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -2.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76.

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

Celanese Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Tuesday, February 25th. Celanese's dividend payout ratio is presently -0.86%.

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.