LPL Financial LLC cut its holdings in shares of Celanese Co. (NYSE:CE - Free Report) by 82.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,885 shares of the basic materials company's stock after selling 225,560 shares during the quarter. LPL Financial LLC's holdings in Celanese were worth $3,245,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its position in Celanese by 103.7% in 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 in the last quarter. CKW Financial Group increased its holdings in Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock valued at $37,000 after buying an additional 185 shares in the last quarter. CENTRAL TRUST Co raised 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 worth $46,000 after acquiring an additional 202 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Celanese by 200.8% during the 4th 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 in the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of Celanese by 51.1% during the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company's stock worth $78,000 after acquiring an additional 382 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company's stock.
Wall Street Analyst Weigh In
CE has been the subject of a number of analyst reports. 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. Piper Sandler reiterated an "underweight" rating and set a $48.00 target price (down previously from $50.00) on shares of Celanese in a research report on Monday, April 7th. Alembic Global Advisors raised shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Bank of America decreased their price objective on shares of Celanese from $88.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Vertical Research raised shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 target price for the company in a research note on Thursday, March 6th. Three 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's stock. According to MarketBeat, Celanese currently has a consensus rating of "Hold" and a consensus price target of $61.33.
Read Our Latest Research Report on CE
Celanese Trading Down 1.2 %
Shares of CE traded down $0.46 during midday trading on Wednesday, reaching $37.47. The company had a trading volume of 1,380,149 shares, compared to its average volume of 3,528,071. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $169.49. 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 firm has a 50 day simple moving average of $53.75 and a 200-day simple moving average of $76.44. The stock has a market cap of $4.10 billion, a PE ratio of -2.69, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08.
Celanese (NYSE:CE - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) 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%. Research analysts forecast that Celanese Co. will post 8.79 EPS for the current fiscal year.
Celanese Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.32%. Celanese's dividend payout ratio (DPR) is -0.86%.
Celanese 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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