Celanese Co. (NYSE:CE) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Celanese Co. (NYSE:CE - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,679,670 shares of the basic materials company's stock after purchasing an additional 73,498 shares during the quarter. Geode Capital Management LLC owned about 2.45% of Celanese worth $184,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CE. UMB Bank n.a. lifted its position in 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 purchasing an additional 194 shares during the period. CKW Financial Group boosted 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 worth $37,000 after buying an additional 185 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Celanese by 43.2% during the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock worth $46,000 after purchasing an additional 202 shares in 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 lifted its stake in Celanese by 51.1% in the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company's stock worth $78,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.

Remove Ads

Celanese Stock Performance

Shares of NYSE:CE traded up $0.64 during trading on Friday, reaching $38.22. The company had a trading volume of 4,045,241 shares, compared to its average volume of 1,938,751. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The stock's fifty day moving average price is $54.99 and its 200 day moving average price is $77.85. Celanese Co. has a fifty-two week low of $36.29 and a fifty-two week high of $169.50. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -2.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08.

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 (EPS) 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 company had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. As a group, equities research analysts predict that Celanese Co. will post 8.79 EPS for the current year.

Celanese Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. Celanese's dividend payout ratio is currently -0.86%.

Analyst Ratings Changes

CE has been the topic of several recent research reports. Royal Bank of Canada cut shares of Celanese from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $84.00 to $56.00 in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft increased their target price on Celanese from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Wells Fargo & Company reduced their price objective on Celanese from $55.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Celanese from $75.00 to $59.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Finally, Morgan Stanley lowered their price objective on Celanese from $100.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Three 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.89.

Celanese Company 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.