Marathon Trading Investment Management LLC purchased a new stake in Celanese Co. (NYSE:CE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,023 shares of the basic materials company's stock, valued at approximately $1,247,000.
Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Celanese by 27.4% in the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company's stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares in the last quarter. State Street Corp lifted its stake in Celanese by 3.1% in the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company's stock worth $611,931,000 after purchasing an additional 136,994 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Celanese by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company's stock worth $353,145,000 after buying an additional 177,552 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Celanese by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,757 shares of the basic materials company's stock valued at $71,823,000 after acquiring an additional 46,856 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Celanese by 608.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company's stock valued at $93,754,000 after acquiring an additional 592,196 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CE has been the subject of several recent research reports. UBS Group lowered their price objective on Celanese from $72.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada lowered shares of 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 report on Thursday, February 20th. Vertical Research raised Celanese from a "sell" rating to a "hold" rating and set a $66.00 price target for the company in a research report on Thursday, March 6th. Barclays dropped their price target on Celanese from $75.00 to $59.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Finally, Piper Sandler reduced their price objective on shares of Celanese from $77.00 to $50.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $72.31.
Check Out Our Latest Analysis on CE
Celanese Stock Up 0.5 %
Shares of CE traded up $0.28 during trading hours on Thursday, hitting $53.07. The company had a trading volume of 2,055,583 shares, compared to its average volume of 3,174,637. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of -3.81, a P/E/G ratio of 1.05 and a beta of 1.23. Celanese Co. has a 52-week low of $45.94 and a 52-week high of $172.16. The firm has a fifty day moving average price of $64.11 and a 200-day moving average price of $90.08.
Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. The company had revenue of $2.37 billion during 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%. On average, equities research analysts forecast that Celanese Co. will post 8.79 EPS for the current fiscal year.
Celanese Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Tuesday, February 25th. Celanese's payout ratio is currently -0.86%.
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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