Wellington Management Group LLP decreased its position in shares of Celanese Co. (NYSE:CE - Free Report) by 85.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,383,108 shares of the basic materials company's stock after selling 8,077,245 shares during the period. Wellington Management Group LLP owned 1.27% of Celanese worth $95,725,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position 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 worth $26,000 after purchasing an additional 194 shares in the last quarter. CKW Financial Group boosted its stake 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 purchasing an additional 185 shares during the period. CENTRAL TRUST Co grew its holdings in Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock valued at $46,000 after buying an additional 202 shares in the last quarter. EverSource Wealth Advisors LLC raised its position 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 valued at $52,000 after buying an additional 498 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings 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 worth $78,000 after buying an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company's stock.
Celanese Trading Down 2.1 %
NYSE:CE traded down $0.86 during mid-day trading on Tuesday, hitting $39.65. 1,479,671 shares of the stock traded hands, compared to its average volume of 3,450,523. 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 $36.75 and a 52 week high of $169.49. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -2.84, a PEG ratio of 1.05 and a beta of 1.08. The firm's 50 day moving average is $58.74 and its two-hundred day moving average is $80.90.
Celanese (NYSE:CE - Get Free Report) last released its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. On average, equities research analysts predict that Celanese Co. will post 8.79 earnings per share for the current year.
Celanese Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. Celanese's dividend payout ratio (DPR) is -0.86%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on CE shares. Royal Bank of Canada cut shares of Celanese from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $84.00 to $56.00 in a research note on Thursday, February 20th. Barclays reduced their target price on Celanese from $75.00 to $59.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Morgan Stanley dropped their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company decreased their price objective on Celanese from $75.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, February 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $64.72.
Check Out Our Latest Stock Analysis on Celanese
About Celanese
(
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.
Further Reading
Before you consider Celanese, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Celanese wasn't on the list.
While Celanese currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Like this article? Share it with a colleague.
Link copied to clipboard.
