Cibc World Markets Corp Raises Position in Celanese Co. (NYSE:CE)

Cibc World Markets Corp raised its stake in Celanese Co. (NYSE:CE - Free Report) by 300.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,212 shares of the basic materials company's stock after buying an additional 44,419 shares during the period. Cibc World Markets Corp owned about 0.05% of Celanese worth $4,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CE. CIBC Asset Management Inc lifted its holdings in Celanese by 15.3% in the third quarter. CIBC Asset Management Inc now owns 15,922 shares of the basic materials company's stock valued at $2,165,000 after buying an additional 2,111 shares during the period. Empowered Funds LLC raised its position in shares of Celanese by 50.8% in the 3rd quarter. Empowered Funds LLC now owns 20,510 shares of the basic materials company's stock worth $2,789,000 after acquiring an additional 6,907 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Celanese by 6.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 13,436 shares of the basic materials company's stock valued at $1,827,000 after purchasing an additional 780 shares during the period. Caprock Group LLC boosted its position in shares of Celanese by 8.8% during the 3rd quarter. Caprock Group LLC now owns 7,371 shares of the basic materials company's stock valued at $1,002,000 after purchasing an additional 599 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Celanese during the third quarter worth approximately $397,000. Institutional investors and hedge funds own 98.87% of the company's stock.

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Analysts Set New Price Targets

CE has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a report on Thursday, February 20th. Wells Fargo & Company cut their target price on shares of Celanese from $75.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of Celanese from $92.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. StockNews.com lowered shares of Celanese from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Finally, Morgan Stanley reduced their target price 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. Three equities research 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, the company has a consensus rating of "Hold" and an average price target of $66.67.

Celanese Stock Up 4.3 %

Shares of NYSE CE traded up $2.44 during trading on Monday, hitting $59.54. The stock had a trading volume of 4,724,801 shares, compared to its average volume of 1,719,661. 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 firm has a fifty day moving average of $62.84 and a two-hundred day moving average of $86.25. Celanese Co. has a 12 month low of $45.94 and a 12 month high of $172.16. The company has a market capitalization of $6.51 billion, a PE ratio of -4.27, a PEG ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.25 by $0.20. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations 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, equities research analysts forecast 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. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Tuesday, February 25th. Celanese's payout ratio is -0.86%.

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.