Celanese Co. (NYSE:CE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Celanese Co. (NYSE:CE - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,688,619 shares of the basic materials company's stock after acquiring an additional 82,860 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.54% of Celanese worth $116,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CE. UMB Bank n.a. grew its position in 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 boosted its stake 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 period. CENTRAL TRUST Co increased its position in Celanese by 43.2% in the 4th 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 raised its stake in Celanese by 200.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 498 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in Celanese during the 3rd quarter worth approximately $103,000. Hedge funds and other institutional investors own 98.87% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have recently issued reports on CE. Vertical Research raised Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price on the stock in a report on Thursday, March 6th. BMO Capital Markets cut their price objective on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada downgraded shares of Celanese from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $84.00 to $56.00 in a report on Thursday, February 20th. Bank of America cut their price target on shares of Celanese from $88.00 to $72.00 and set a "buy" rating for the company in a report on Monday, February 24th. Finally, Evercore ISI reduced their price target on Celanese from $85.00 to $75.00 and set an "in-line" rating for the company in a report on Monday, March 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $64.72.

Celanese Trading Down 1.2 %

NYSE:CE traded down $0.50 on Monday, reaching $40.50. The stock had a trading volume of 5,594,076 shares, compared to its average volume of 1,871,670. Celanese Co. has a 12-month low of $36.75 and a 12-month high of $169.50. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -2.91, a P/E/G ratio of 1.05 and a beta of 1.08. The firm's fifty day moving average is $58.74 and its two-hundred day moving average is $80.90. 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 (NYSE:CE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.20. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. Equities analysts expect that Celanese Co. will post 8.79 EPS for the current fiscal 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 given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Tuesday, February 25th. Celanese's dividend payout ratio is currently -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.