Invesco Ltd. Has $274.71 Million Stock Holdings in Celanese Co. (NYSE:CE)

Invesco Ltd. boosted its position in shares of Celanese Co. (NYSE:CE - Free Report) by 105.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,969,284 shares of the basic materials company's stock after acquiring an additional 2,033,025 shares during the period. Invesco Ltd. owned 3.63% of Celanese worth $274,714,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CE. UMB Bank n.a. lifted its position 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 worth $26,000 after purchasing an additional 194 shares during the last quarter. CKW Financial Group lifted its holdings in shares of Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after buying an additional 185 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 202 shares during the period. 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, Brooklyn Investment Group raised its stake in Celanese by 51.1% during the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 382 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

CE has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Celanese from $55.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada lowered Celanese from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $84.00 to $56.00 in a research note on Thursday, February 20th. Citigroup reduced their price objective on Celanese from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Evercore ISI lowered their price objective on Celanese from $85.00 to $75.00 and set an "in-line" rating on the stock in a research report on Monday, March 24th. Finally, Piper Sandler reiterated an "underweight" rating and set a $48.00 price target (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Celanese has a consensus rating of "Hold" and a consensus price target of $61.33.

Celanese Price Performance

NYSE:CE traded up $0.52 during mid-day trading on Wednesday, reaching $38.45. 704,880 shares of the company were exchanged, compared to its average volume of 1,953,162. Celanese Co. has a 12 month low of $36.29 and a 12 month high of $169.50. The stock has a market cap of $4.20 billion, a PE ratio of -2.76, a PEG ratio of 1.05 and a beta of 1.08. 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 fifty day moving average of $53.75 and a 200 day moving average of $76.44.

Celanese (NYSE:CE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.20. The firm had revenue of $2.37 billion during 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%. On average, research analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given 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 yield of 0.31%. 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.