Zurcher Kantonalbank Zurich Cantonalbank Has $5.51 Million Holdings in Celanese Co. (NYSE:CE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Celanese Co. (NYSE:CE - Free Report) by 70.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,579 shares of the basic materials company's stock after buying an additional 32,856 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Celanese worth $5,508,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CE. UMB Bank n.a. increased its holdings 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 worth $26,000 after buying an additional 194 shares in the last quarter. CKW Financial Group raised its position in Celanese by 52.9% in 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 during the last quarter. CENTRAL TRUST Co raised its position in Celanese by 43.2% in 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. Brooklyn Investment Group acquired a new position in Celanese in the third quarter worth $102,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Celanese during the third quarter worth $103,000. 98.87% of the stock is currently owned by institutional investors.

Celanese Trading Up 1.0 %

Celanese stock traded up $0.56 during midday trading on Tuesday, hitting $58.53. 2,099,418 shares of the stock were exchanged, compared to its average volume of 1,600,462. The stock has a market capitalization of $6.40 billion, a PE ratio of -4.20, a P/E/G ratio of 1.05 and a beta of 1.23. The company has a fifty day simple moving average of $63.63 and a two-hundred day simple moving average of $88.74. 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 Co. has a 52 week low of $45.94 and a 52 week high of $172.16.

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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, topping analysts' consensus estimates of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. Equities research analysts anticipate 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. Shareholders of record on Tuesday, February 25th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.21%. Celanese's dividend payout ratio (DPR) is currently -0.86%.

Wall Street Analyst Weigh In

CE has been the topic of several research reports. Barclays reduced their price target on shares of Celanese from $75.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. BMO Capital Markets decreased their price target on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a research note on Thursday, February 20th. Morgan Stanley dropped their price objective on shares of Celanese from $100.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. UBS Group decreased their price objective on Celanese from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, February 20th. Finally, Piper Sandler lowered their target price on Celanese from $77.00 to $50.00 and set an "underweight" rating for the company in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Celanese currently has an average rating of "Hold" and a consensus target price of $72.18.

Celanese 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.