Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Celanese Co. (NYSE:CE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 89,881 shares of the basic materials company's stock, valued at approximately $6,221,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Celanese as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake 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 purchasing an additional 136,994 shares during the last quarter. Zacks Investment Management lifted its stake in Celanese by 6.5% during the third quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company's stock worth $21,814,000 after purchasing an additional 9,782 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Celanese by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company's stock worth $134,723,000 after purchasing an additional 69,606 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Celanese by 5.1% during the fourth quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company's stock worth $521,000 after purchasing an additional 351 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Celanese by 12.5% during the third quarter. BNP Paribas Financial Markets now owns 147,001 shares of the basic materials company's stock worth $19,986,000 after purchasing an additional 16,308 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.
Celanese Trading Down 2.2 %
CE stock traded down $1.26 during trading on Wednesday, reaching $57.26. The company had a trading volume of 1,672,856 shares, compared to its average volume of 3,102,049. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. Celanese Co. has a 52 week low of $45.94 and a 52 week high of $172.16. The business has a 50 day moving average of $63.31 and a 200 day moving average of $87.72. The company has a market cap of $6.26 billion, a P/E ratio of -4.11, a PEG 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.36 billion. As a group, sell-side analysts forecast that Celanese Co. will post 8.79 earnings per share 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 issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Tuesday, February 25th. Celanese's dividend payout ratio (DPR) is presently -0.86%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. BMO Capital Markets dropped their price target on Celanese from $73.00 to $46.00 and set an "underperform" rating for the company in a research note on Thursday, February 20th. Citigroup raised Celanese to a "neutral" rating and lifted their price target for the stock from $73.00 to $76.00 in a research note on Thursday, January 23rd. UBS Group dropped their target price on Celanese from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on Celanese from $92.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, February 20th. Finally, Piper Sandler dropped their target price on Celanese from $77.00 to $50.00 and set an "underweight" rating for the company in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Celanese has an average rating of "Hold" and a consensus target price of $72.18.
Check Out Our Latest Stock Report on Celanese
Celanese Profile
(
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.
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