Empowered Funds LLC grew its stake in Celanese Co. (NYSE:CE - Free Report) by 44.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,567 shares of the basic materials company's stock after purchasing an additional 9,057 shares during the quarter. Empowered Funds LLC's holdings in Celanese were worth $2,046,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. DT Investment Partners LLC raised its stake in shares of Celanese by 128.8% in the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company's stock valued at $25,000 after buying an additional 103 shares during the period. UMB Bank n.a. raised its stake in shares of Celanese by 103.7% during the 4th 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 during the period. CKW Financial Group raised its stake in shares of Celanese by 52.9% during 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 period. Exchange Traded Concepts LLC bought a new stake in shares of Celanese during the 3rd quarter valued at $89,000. Finally, CENTRAL TRUST Co raised its stake 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 valued at $46,000 after purchasing an additional 202 shares during the period. Institutional investors own 98.87% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CE. Royal Bank of Canada decreased their price objective on Celanese from $122.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, December 19th. Mizuho cut their price objective on Celanese from $120.00 to $86.00 and set a "neutral" rating for the company in a report on Thursday, December 5th. Citigroup dropped their target price on Celanese from $100.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Vertical Research cut Celanese from a "hold" rating to a "sell" rating and set a $130.00 target price for the company. in a report on Tuesday, October 29th. Finally, Barclays dropped their target price on Celanese from $88.00 to $75.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $102.06.
Get Our Latest Research Report on Celanese
Celanese Trading Up 2.7 %
CE traded up $1.81 during midday trading on Tuesday, reaching $69.87. 613,716 shares of the company's stock traded hands, compared to its average volume of 2,099,524. Celanese Co. has a 52 week low of $64.05 and a 52 week high of $172.16. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 1.37 and a beta of 1.17. The firm has a fifty day moving average of $69.16 and a two-hundred day moving average of $98.72. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76.
Celanese Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, February 25th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, February 25th. Celanese's dividend payout ratio is currently 28.17%.
Celanese Company Profile
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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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