Resona Asset Management Co. Ltd. Makes New Investment in Celanese Co. (NYSE:CE)

Resona Asset Management Co. Ltd. bought a new position in shares of Celanese Co. (NYSE:CE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,582 shares of the basic materials company's stock, valued at approximately $2,184,000.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC grew its holdings in shares of Celanese by 14.2% in the third quarter. HighTower Advisors LLC now owns 37,472 shares of the basic materials company's stock valued at $5,059,000 after purchasing an additional 4,659 shares during the period. Janus Henderson Group PLC grew its stake in shares of Celanese by 29.0% in the 3rd quarter. Janus Henderson Group PLC now owns 13,773 shares of the basic materials company's stock valued at $1,873,000 after buying an additional 3,100 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Celanese by 5.8% during the 3rd quarter. Quantinno Capital Management LP now owns 9,249 shares of the basic materials company's stock worth $1,258,000 after buying an additional 509 shares during the last quarter. National Bank of Canada FI raised its position in shares of Celanese by 57.5% during the 3rd quarter. National Bank of Canada FI now owns 48,792 shares of the basic materials company's stock valued at $6,634,000 after buying an additional 17,820 shares during the period. Finally, XTX Topco Ltd acquired a new position in Celanese in the third quarter valued at approximately $853,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CE shares. Vertical Research upgraded shares of Celanese from a "sell" rating to a "hold" rating and set a $66.00 price objective on the stock in a report on Thursday, March 6th. KeyCorp decreased their price target on Celanese from $76.00 to $71.00 and set an "overweight" rating on the stock in a research note on Monday. Citigroup reduced their target price on shares of Celanese from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. BMO Capital Markets lowered their target price on Celanese from $73.00 to $46.00 and set an "underperform" rating for the company in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $63.61.

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Celanese Stock Performance

Shares of CE traded down $0.43 during mid-day trading on Tuesday, hitting $38.76. 446,521 shares of the company's stock were exchanged, compared to its average volume of 1,945,101. The business's 50 day moving average is $54.37 and its two-hundred day moving average is $76.71. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $4.24 billion, a P/E ratio of -2.78, a P/E/G ratio of 1.05 and a beta of 1.08. Celanese Co. has a fifty-two week low of $36.29 and a fifty-two week high of $169.50.

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

Celanese Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.31%. Celanese's dividend payout ratio (DPR) is -0.86%.

Celanese Company 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.