IFG Advisory LLC Boosts Holdings in Celanese Co. (NYSE:CE)

IFG Advisory LLC increased its holdings in Celanese Co. (NYSE:CE) by 80.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 37,013 shares of the basic materials company’s stock after buying an additional 16,515 shares during the quarter. IFG Advisory LLC’s holdings in Celanese were worth $5,751,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Artemis Investment Management LLP increased its holdings in Celanese by 30.9% in the 4th quarter. Artemis Investment Management LLP now owns 155,551 shares of the basic materials company’s stock worth $24,168,000 after buying an additional 36,701 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in shares of Celanese by 0.5% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 111,696 shares of the basic materials company’s stock valued at $17,354,000 after purchasing an additional 513 shares during the period. CVA Family Office LLC bought a new stake in shares of Celanese during the 4th quarter valued at about $68,000. Raymond James & Associates grew its stake in shares of Celanese by 2.2% during the 4th quarter. Raymond James & Associates now owns 61,602 shares of the basic materials company’s stock valued at $9,571,000 after purchasing an additional 1,333 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Celanese during the 4th quarter valued at about $2,952,000. 98.87% of the stock is currently owned by institutional investors.

Celanese Stock Performance

Shares of Celanese stock opened at $169.64 on Thursday. The stock’s fifty day moving average is $152.71 and its two-hundred day moving average is $139.60. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 1.63. Celanese Co. has a 52 week low of $99.33 and a 52 week high of $169.73. The company has a market capitalization of $18.48 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.35.

Celanese (NYSE:CE) last released its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). Celanese had a net margin of 17.92% and a return on equity of 14.61%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter last year, the business posted $1.44 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that Celanese Co. will post 11.46 earnings per share for the current year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, February 16th. Celanese’s payout ratio is 15.64%.

Insider Transactions at Celanese

In other news, COO Scott A. Richardson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the transaction, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Scott A. Richardson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $156.85, for a total transaction of $313,700.00. Following the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at $11,987,888.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Christopher Murray bought 597 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $156.43 per share, for a total transaction of $93,388.71. Following the completion of the acquisition, the senior vice president now owns 11,600 shares of the company’s stock, valued at $1,814,588. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

CE has been the subject of a number of recent research reports. Robert W. Baird boosted their price target on Celanese from $135.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Alembic Global Advisors downgraded Celanese from an “overweight” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Monday, January 22nd. Royal Bank of Canada lowered their price target on Celanese from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Citigroup boosted their price target on Celanese from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, December 13th. Finally, Tudor, Pickering, Holt & Co. cut Celanese from a “buy” rating to a “sell” rating and set a $140.00 price objective on the stock. in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.28.

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.