Tredje AP fonden Has $975,000 Stake in Celanese Co. (NYSE:CE)

Tredje AP fonden reduced its holdings in shares of Celanese Co. (NYSE:CE - Free Report) by 50.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,093 shares of the basic materials company's stock after selling 14,092 shares during the quarter. Tredje AP fonden's holdings in Celanese were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Celanese by 27.4% in the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company's stock valued at $1,286,230,000 after purchasing an additional 2,036,362 shares during the period. State Street Corp increased its position in Celanese by 3.1% during the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company's stock worth $611,931,000 after acquiring an additional 136,994 shares during the period. Geode Capital Management LLC raised its stake in Celanese by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company's stock worth $353,145,000 after purchasing an additional 177,552 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Celanese by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,757 shares of the basic materials company's stock valued at $71,823,000 after purchasing an additional 46,856 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Celanese by 608.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company's stock worth $93,754,000 after purchasing an additional 592,196 shares in the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.

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Celanese Trading Down 2.2 %

Shares of NYSE:CE traded down $1.26 during mid-day trading on Wednesday, reaching $57.26. 1,672,856 shares of the company's stock were exchanged, compared to its average volume of 1,602,141. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of -4.11, a PEG ratio of 1.05 and a beta of 1.23. Celanese Co. has a twelve month low of $45.94 and a twelve month high of $172.16. The business's fifty day moving average price is $63.31 and its 200-day moving average price is $87.72. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34.

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

Celanese Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. Celanese's dividend payout ratio (DPR) is currently -0.86%.

Analyst Ratings Changes

CE has been the topic of a number of recent research reports. Citigroup upgraded Celanese to a "neutral" rating and raised their price objective for the stock from $73.00 to $76.00 in a research note on Thursday, January 23rd. BMO Capital Markets cut their price objective on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating for the company in a research report on Thursday, February 20th. UBS Group decreased their target price on shares of Celanese from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Alembic Global Advisors upgraded shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 target price for the company in a research report on Monday. Finally, Bank of America reduced their price target on shares of Celanese from $88.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $72.18.

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.