Stifel Financial Corp trimmed its position in Celanese Co. (NYSE:CE – Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,461 shares of the basic materials company’s stock after selling 514 shares during the period. Stifel Financial Corp’s holdings in Celanese were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of CE. Altshuler Shaham Ltd purchased a new stake in Celanese in the fourth quarter valued at approximately $25,000. UMB Bank n.a. increased 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 worth $26,000 after purchasing an additional 194 shares in the last quarter. CKW Financial Group raised its holdings in shares of Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares during the last quarter. CENTRAL TRUST Co lifted its holdings 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Celanese by 200.8% in the fourth 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. Institutional investors and hedge funds own 98.87% of the company’s stock.
Celanese Stock Up 6.9 %
Shares of NYSE:CE opened at $51.78 on Friday. Celanese Co. has a 12-month low of $36.29 and a 12-month high of $169.50. 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 stock’s 50-day moving average price is $48.50 and its two-hundred day moving average price is $66.20. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -3.72, a PEG ratio of 1.05 and a beta of 1.09.
Celanese (NYSE:CE – Get Free Report) last issued its earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 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 $2.39 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business earned $2.08 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, research analysts forecast that Celanese Co. will post 8.79 EPS for the current year.
Celanese Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, April 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Monday, April 28th. Celanese’s payout ratio is currently -0.86%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CE. Evercore ISI decreased their price target on Celanese from $85.00 to $75.00 and set an “in-line” rating on the stock in a research note on Monday, March 24th. Piper Sandler reiterated an “underweight” rating and issued a $48.00 price target (down from $50.00) on shares of Celanese in a research note on Monday, April 7th. Mizuho set a $45.00 target price on shares of Celanese in a report on Tuesday, April 15th. Morgan Stanley lowered their target price on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Celanese from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Celanese currently has an average rating of “Hold” and an average target price of $61.89.
Read Our Latest Stock Analysis on Celanese
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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