Walnut Level Capital LLC Cuts Stock Position in Celanese Co. (NYSE:CE)

Walnut Level Capital LLC trimmed its holdings in shares of Celanese Co. (NYSE:CE - Free Report) by 86.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the basic materials company's stock after selling 47,500 shares during the quarter. Walnut Level Capital LLC's holdings in Celanese were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings 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 acquiring an additional 194 shares during the last quarter. CKW Financial Group lifted its stake in 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 purchasing an additional 185 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 202 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 valued at $52,000 after buying an additional 498 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Celanese in the 3rd quarter worth approximately $102,000. 98.87% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

CE has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on shares of Celanese from $77.00 to $50.00 and set an "underweight" rating for the company in a report on Tuesday, February 25th. StockNews.com downgraded Celanese from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Robert W. Baird dropped their target price on Celanese from $110.00 to $67.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Citigroup raised shares of Celanese to a "neutral" rating and lifted their target price for the stock from $73.00 to $76.00 in a research note on Thursday, January 23rd. Finally, Morgan Stanley lowered their price target on Celanese from $100.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $66.67.

Celanese Stock Down 0.5 %

Shares of NYSE:CE traded down $0.30 on Tuesday, hitting $59.14. 2,583,797 shares of the company traded hands, compared to its average volume of 1,721,992. The company has a market cap of $6.47 billion, a PE ratio of -4.25, a PEG ratio of 1.05 and a beta of 1.23. The stock has a 50 day simple moving average of $62.68 and a 200-day simple moving average of $85.82. Celanese Co. has a 52 week low of $45.94 and a 52 week high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98.

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

Celanese Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. Celanese's dividend payout ratio (DPR) is presently -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.