James Investment Research Inc. cut its stake in Celanese Co. (NYSE:CE) by 4.1% during the first quarter, Holdings Channel reports. The fund owned 771,296 shares of the basic materials company’s stock after selling 32,706 shares during the period. Celanese accounts for approximately 1.9% of James Investment Research Inc.’s holdings, making the stock its 3rd largest position. James Investment Research Inc. owned about 0.55% of Celanese worth $69,301,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Acrospire Investment Management LLC raised its stake in Celanese by 114.3% in the third quarter. Acrospire Investment Management LLC now owns 1,500 shares of the basic materials company’s stock valued at $100,000 after buying an additional 800 shares during the last quarter. Tyers Asset Management LLC purchased a new stake in Celanese during the fourth quarter valued at about $105,000. Creative Planning raised its stake in Celanese by 261.1% in the third quarter. Creative Planning now owns 1,755 shares of the basic materials company’s stock valued at $117,000 after buying an additional 1,269 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Celanese during the fourth quarter valued at about $119,000. Finally, Bessemer Group Inc. raised its stake in Celanese by 26.9% in the fourth quarter. Bessemer Group Inc. now owns 1,694 shares of the basic materials company’s stock valued at $134,000 after buying an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 98.08% of the company’s stock.
Shares of Celanese Co. (NYSE:CE) traded down 1.23% during trading on Friday, hitting $88.40. 1,173,584 shares of the company were exchanged. The stock has a market capitalization of $12.46 billion, a PE ratio of 14.31 and a beta of 1.23. The company has a 50 day moving average of $90.38 and a 200-day moving average of $82.08. Celanese Co. has a 1-year low of $60.59 and a 1-year high of $93.06.
Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, April 17th. The basic materials company reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.09. Celanese had a return on equity of 31.09% and a net margin of 16.70%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm earned $1.83 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts forecast that Celanese Co. will post $7.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Investors of record on Monday, May 1st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This is a boost from Celanese’s previous quarterly dividend of $0.36. This represents a $1.84 dividend on an annualized basis and a yield of 2.08%. Celanese’s payout ratio is currently 23.38%.
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Several analysts have recently issued reports on CE shares. Royal Bank of Canada reiterated a “buy” rating and issued a $100.00 target price on shares of Celanese in a research note on Tuesday, March 28th. Citigroup Inc upgraded shares of Celanese from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, January 12th. Deutsche Bank AG reduced their target price on shares of Celanese from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Goldman Sachs Group Inc upped their target price on shares of Celanese from $103.00 to $110.00 and gave the stock a “conviction-buy” rating in a research note on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $87.61.
In related news, insider Kevin S. Oliver sold 2,327 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $87.74, for a total value of $204,170.98. Following the transaction, the insider now directly owns 19,130 shares of the company’s stock, valued at approximately $1,678,466.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is currently owned by insiders.
Celanese Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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