Wells Fargo & Company MN trimmed its holdings in shares of Celanese Co. (NYSE:CE - Free Report) by 28.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,416,195 shares of the basic materials company's stock after selling 552,971 shares during the period. Wells Fargo & Company MN owned 1.30% of Celanese worth $98,015,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its stake in shares of Celanese by 103.7% during the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 194 shares during the period. CKW Financial Group grew its holdings in Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 185 shares in the last quarter. CENTRAL TRUST Co increased its stake in Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company's stock worth $46,000 after buying an additional 202 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Celanese by 200.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock worth $52,000 after buying an additional 498 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in Celanese by 51.1% in the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company's stock valued at $78,000 after buying an additional 382 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. KeyCorp raised Celanese from a "sector weight" rating to an "overweight" rating and set a $76.00 target price on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their price objective on Celanese from $92.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 20th. Vertical Research upgraded 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. Robert W. Baird dropped their price target on shares of Celanese from $110.00 to $67.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Piper Sandler reaffirmed an "underweight" rating and issued a $48.00 price target (down from $50.00) on shares of Celanese in a report on Monday, April 7th. Three equities research 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. Based on data from MarketBeat.com, Celanese has an average rating of "Hold" and an average price target of $63.89.
Get Our Latest Research Report on Celanese
Celanese Stock Performance
NYSE:CE traded up $0.64 during midday trading on Friday, reaching $38.22. 4,045,241 shares of the company traded hands, compared to its average volume of 1,943,744. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -2.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08. The company has a fifty day moving average price of $54.99 and a 200 day moving average price of $77.41. 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 Co. has a twelve month low of $36.29 and a twelve month high of $169.50.
Celanese (NYSE:CE - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping the consensus estimate 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 negative net margin of 14.81% and a positive return on equity of 12.86%. On average, analysts expect 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. 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 presently -0.86%.
About Celanese
(
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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