Nomura Asset Management Co. Ltd. lifted its stake in Celanese Co. (NYSE:CE) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,689 shares of the basic materials company’s stock after purchasing an additional 613 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Celanese were worth $2,041,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Acima Private Wealth LLC bought a new position in shares of Celanese during the 4th quarter valued at $31,000. Baystate Wealth Management LLC lifted its holdings in shares of Celanese by 200.9% during the 4th quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock valued at $32,000 after buying an additional 221 shares during the period. Pearl River Capital LLC bought a new position in shares of Celanese during the 4th quarter valued at $36,000. Prime Capital Investment Advisors LLC bought a new position in shares of Celanese during the 4th quarter valued at $37,000. Finally, Doyle Wealth Management bought a new position in shares of Celanese during the 4th quarter valued at $62,000. 96.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on CE shares. Stifel Nicolaus assumed coverage on Celanese in a report on Monday, December 10th. They set a “hold” rating and a $100.00 price target on the stock. Royal Bank of Canada restated a “buy” rating and issued a $118.00 price objective on shares of Celanese in a research note on Thursday, December 20th. Alembic Global Advisors restated a “sell” rating on shares of Celanese in a research note on Thursday, December 20th. Zacks Investment Research restated a “hold” rating on shares of Celanese in a research note on Monday, December 31st. Finally, BMO Capital Markets lowered Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 price objective for the company. in a research note on Tuesday, January 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Celanese currently has a consensus rating of “Hold” and a consensus target price of $115.24.
Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.02). Celanese had a return on equity of 40.37% and a net margin of 16.87%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Celanese Co. will post 10.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, February 15th. This represents a $2.16 dividend on an annualized basis and a yield of 2.15%. Celanese’s payout ratio is presently 19.64%.
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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