Groupama Asset Managment Increases Stake in Celanese Co. (NYSE:CE)

Groupama Asset Managment raised its stake in shares of Celanese Co. (NYSE:CE - Free Report) by 434.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,007 shares of the basic materials company's stock after purchasing an additional 13,013 shares during the quarter. Groupama Asset Managment's holdings in Celanese were worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. UMB Bank n.a. lifted its holdings in Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock worth $26,000 after buying an additional 194 shares during the period. CKW Financial Group boosted its position 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 worth $37,000 after purchasing an additional 185 shares in the last quarter. CENTRAL TRUST Co raised its stake in Celanese by 43.2% during the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock valued at $46,000 after buying an additional 202 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Celanese by 200.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock worth $52,000 after acquiring an additional 498 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in shares of Celanese during the third quarter valued at $103,000. 98.87% of the stock is currently owned by institutional investors.

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Celanese Stock Down 1.9 %

Shares of NYSE CE traded down $0.77 during trading hours on Monday, hitting $40.22. 1,671,692 shares of the stock were exchanged, compared to its average volume of 1,856,366. Celanese Co. has a 12 month low of $36.83 and a 12 month high of $169.50. The firm has a fifty day moving average price of $59.42 and a 200-day moving average price of $81.53. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The company has a market cap of $4.40 billion, a PE ratio of -2.86, a PEG ratio of 1.05 and a beta of 1.08.

Celanese (NYSE:CE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.20. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. On average, sell-side analysts expect that Celanese Co. will post 8.79 EPS for the current year.

Celanese Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. Celanese's payout ratio is currently -0.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CE shares. JPMorgan Chase & Co. lowered their price target on Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. KeyCorp raised shares of Celanese from a "sector weight" rating to an "overweight" rating and set a $76.00 target price for the company in a report on Friday, March 21st. Piper Sandler reissued an "underweight" rating and issued a $48.00 price target (down from $50.00) on shares of Celanese in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, StockNews.com lowered shares of Celanese from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $65.50.

Celanese 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.