Alps Advisors Inc. increased its stake in shares of Celanese Co. (NYSE:CE) by 183.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,545 shares of the basic materials company’s stock after purchasing an additional 7,474 shares during the quarter. Alps Advisors Inc.’s holdings in Celanese were worth $1,138,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Celanese by 29.0% in the fourth quarter. BlackRock Inc. now owns 9,467,199 shares of the basic materials company’s stock valued at $851,766,000 after acquiring an additional 2,127,883 shares during the last quarter. LSV Asset Management lifted its stake in Celanese by 14.2% in the fourth quarter. LSV Asset Management now owns 2,824,214 shares of the basic materials company’s stock valued at $254,094,000 after acquiring an additional 350,175 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Celanese by 30.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,977 shares of the basic materials company’s stock valued at $220,874,000 after acquiring an additional 569,316 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Celanese by 21.5% in the third quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock valued at $237,621,000 after acquiring an additional 369,361 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Celanese by 61.5% in the fourth quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock valued at $163,756,000 after acquiring an additional 694,491 shares during the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.
In related news, Director John K. Wulff sold 9,175 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the transaction, the director now owns 19,872 shares of the company’s stock, valued at $2,152,535.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.
CE has been the subject of a number of analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $120.00 target price on shares of Celanese in a research note on Wednesday, January 30th. UBS Group set a $126.00 price target on shares of Celanese and gave the company a “buy” rating in a research report on Tuesday, January 29th. Zacks Investment Research raised shares of Celanese from a “sell” rating to a “hold” rating and set a $114.00 price target on the stock in a research report on Monday, April 8th. ValuEngine raised shares of Celanese from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, SunTrust Banks lowered shares of Celanese from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $119.53.
NYSE:CE opened at $105.75 on Thursday. Celanese Co. has a 12 month low of $82.91 and a 12 month high of $119.29. The company has a market capitalization of $13.65 billion, a PE ratio of 9.61, a PEG ratio of 1.03 and a beta of 1.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58.
Celanese (NYSE:CE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Celanese’s revenue was down 8.9% compared to the same quarter last year. Analysts predict that Celanese Co. will post 10.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $2.48 dividend on an annualized basis and a yield of 2.35%. This is a positive change from Celanese’s previous quarterly dividend of $0.54. Celanese’s payout ratio is 22.55%.
Celanese Company Profile
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 Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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