Dynamic Advisor Solutions LLC purchased a new stake in Celanese Co. (NYSE:CE – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 5,236 shares of the basic materials company’s stock purchased, valued at approximately $748,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in Celanese in the fourth quarter valued at approximately $26,000. Mascoma Wealth Management LLC bought a new position in Celanese in the fourth quarter valued at approximately $26,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Celanese by 115.4% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 168 shares of the basic materials company’s stock valued at $28,000 after buying an additional 90 shares in the last quarter. Baystate Wealth Management LLC lifted its stake in Celanese by 55.9% in the fourth quarter. Baystate Wealth Management LLC now owns 184 shares of the basic materials company’s stock valued at $31,000 after buying an additional 66 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Celanese by 355.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 205 shares of the basic materials company’s stock valued at $34,000 after buying an additional 160 shares in the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.
NYSE: CE opened at $120.32 on Friday. Celanese Co. has a one year low of $118.13 and a one year high of $176.50. The company has a market cap of $13.03 billion, a P/E ratio of 6.42 and a beta of 1.18. The firm’s fifty day moving average price is $145.51 and its two-hundred day moving average price is $150.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.64 and a quick ratio of 1.04.
Celanese (NYSE:CE – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The basic materials company reported $5.54 EPS for the quarter, beating the consensus estimate of $4.49 by $1.05. Celanese had a net margin of 22.31% and a return on equity of 50.03%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company earned $3.46 earnings per share. The company’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, equities research analysts expect that Celanese Co. will post 18.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Thursday, April 28th were paid a $0.68 dividend. The ex-dividend date of this dividend was Wednesday, April 27th. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. Celanese’s dividend payout ratio (DPR) is presently 14.52%.
A number of brokerages have weighed in on CE. Piper Sandler lifted their price target on shares of Celanese from $140.00 to $145.00 and gave the company an “underweight” rating in a research note on Wednesday, May 18th. StockNews.com raised shares of Celanese from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. Bank of America boosted their objective price on shares of Celanese from $165.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, April 18th. Finally, Jefferies Financial Group lowered shares of Celanese from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Celanese has a consensus rating of “Moderate Buy” and an average target price of $189.20.
Celanese Profile (Get Rating)
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, 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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