Great West Life Assurance Co. Can increased its stake in Celanese Co. (NYSE:CE) by 23.4% in the 4th quarter, HoldingsChannel reports. The firm owned 82,585 shares of the basic materials company’s stock after buying an additional 15,638 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Celanese were worth $7,084,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acima Private Wealth LLC bought a new stake in Celanese during the fourth quarter worth about $31,000. Baystate Wealth Management LLC lifted its stake in Celanese by 200.9% during the fourth quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 221 shares during the last quarter. Pearl River Capital LLC bought a new stake in Celanese during the fourth quarter worth about $36,000. Prime Capital Investment Advisors LLC bought a new stake in Celanese during the fourth quarter worth about $37,000. Finally, Doyle Wealth Management bought a new stake in Celanese during the fourth quarter worth about $62,000. Institutional investors own 96.45% of the company’s stock.
Several equities research analysts have issued reports on the company. ValuEngine lowered Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Cowen lowered Celanese from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $122.00 to $108.00 in a research note on Wednesday, February 6th. UBS Group set a $126.00 price target on Celanese and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research lowered Celanese from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Finally, BMO Capital Markets lowered Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 price target for the company. in a research note on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Celanese has a consensus rating of “Hold” and an average price target of $115.24.
Celanese (NYSE:CE) last released its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.02). Celanese had a net margin of 16.87% and a return on equity of 40.37%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm posted $1.98 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts forecast that Celanese Co. will post 10.41 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 19th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, February 15th. This represents a $2.16 dividend on an annualized basis and a yield of 2.15%. Celanese’s dividend payout ratio is presently 19.64%.
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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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