Brown Brothers Harriman & Co. Sells 102,639 Shares of Celanese Co. (NYSE:CE)

Brown Brothers Harriman & Co. cut its stake in Celanese Co. (NYSE:CE - Free Report) by 61.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,972 shares of the basic materials company's stock after selling 102,639 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.06% of Celanese worth $4,428,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CE. UMB Bank n.a. raised 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 in the last quarter. CKW Financial Group increased its stake in shares of 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 during the last quarter. CENTRAL TRUST Co raised its holdings 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 buying an additional 202 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Celanese by 200.8% during the 4th 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 during the last quarter. Finally, Brooklyn Investment Group boosted its stake in 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 buying an additional 382 shares in the last quarter. Institutional investors own 98.87% of the company's stock.

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Celanese Trading Down 0.8 %

NYSE:CE traded down $0.44 on Monday, reaching $56.76. 2,271,911 shares of the stock traded hands, compared to its average volume of 1,812,394. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese Co. has a 1-year low of $45.94 and a 1-year high of $172.10. The company's 50 day moving average is $61.31 and its 200-day moving average is $83.64. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of -4.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE - Get Free Report) last announced its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share 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 the consensus estimate of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. Equities research analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 0.21%. Celanese's payout ratio is -0.86%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Vertical Research raised shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price for the company in a report on Thursday, March 6th. Jefferies Financial Group dropped their price objective on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Piper Sandler decreased their target price on shares of Celanese from $77.00 to $50.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company dropped their price target on Celanese from $75.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday, February 20th. Finally, KeyCorp upgraded Celanese from a "sector weight" rating to an "overweight" rating and set a $76.00 price objective on the stock in a research report on Friday, March 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $66.94.

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.