Employees Retirement System of Texas purchased a new stake in Celanese Co. (NYSE:CE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 53,980 shares of the basic materials company's stock, valued at approximately $37,360,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Public Sector Pension Investment Board boosted its position in shares of Celanese by 95.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,720 shares of the basic materials company's stock valued at $642,000 after purchasing an additional 2,300 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Celanese by 116.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,460 shares of the basic materials company's stock worth $607,000 after buying an additional 2,396 shares during the period. HighTower Advisors LLC increased its stake in shares of Celanese by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 37,472 shares of the basic materials company's stock valued at $5,059,000 after acquiring an additional 4,659 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Celanese by 29.0% during the 3rd quarter. Janus Henderson Group PLC now owns 13,773 shares of the basic materials company's stock valued at $1,873,000 after acquiring an additional 3,100 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in Celanese by 5.4% during the third quarter. Royal London Asset Management Ltd. now owns 44,171 shares of the basic materials company's stock worth $6,005,000 after acquiring an additional 2,261 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company's stock.
Wall Street Analysts Forecast Growth
CE has been the topic of several recent research reports. StockNews.com lowered Celanese from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. KeyCorp upgraded shares of Celanese from a "sector weight" rating to an "overweight" rating and set a $76.00 target price for the company in a research note on Friday, March 21st. Barclays dropped their price target on shares of Celanese from $75.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Alembic Global Advisors upgraded shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Finally, UBS Group dropped their target price on shares of Celanese from $60.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.89.
Check Out Our Latest Report on Celanese
Celanese Stock Performance
NYSE:CE traded up $0.64 on Friday, reaching $38.22. 4,045,241 shares of the company's stock were exchanged, compared to its average volume of 1,938,751. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -2.74, a P/E/G ratio of 1.05 and a beta of 1.08. 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 has a fifty day simple moving average of $54.99 and a 200-day simple moving average of $77.85. Celanese Co. has a 52 week low of $36.29 and a 52 week high of $169.50.
Celanese (NYSE:CE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.20. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. As a group, sell-side analysts predict that Celanese Co. will post 8.79 earnings per share for the current year.
Celanese Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders 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 payout ratio is currently -0.86%.
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.
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