Sciencast Management LP bought a new position in Celanese Co. (NYSE:CE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,788 shares of the basic materials company’s stock, valued at approximately $754,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Celanese by 1.1% in the 4th quarter. BlackRock Inc. now owns 7,108,708 shares of the basic materials company’s stock worth $761,200,000 after purchasing an additional 74,850 shares in the last quarter. Lyrical Asset Management LP lifted its stake in Celanese by 2.3% in the 4th quarter. Lyrical Asset Management LP now owns 3,094,039 shares of the basic materials company’s stock worth $331,310,000 after purchasing an additional 68,563 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Celanese by 10.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after purchasing an additional 212,134 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Celanese by 2.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,202,996 shares of the basic materials company’s stock worth $235,897,000 after purchasing an additional 52,102 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Celanese by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,982,911 shares of the basic materials company’s stock worth $212,331,000 after purchasing an additional 13,672 shares in the last quarter. 95.83% of the stock is currently owned by institutional investors and hedge funds.
CE has been the topic of a number of research reports. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Monday, December 18th. Tudor Pickering initiated coverage on shares of Celanese in a research note on Tuesday, November 14th. They issued a “buy” rating on the stock. SunTrust Banks reissued a “buy” rating on shares of Celanese in a research note on Wednesday, January 17th. UBS Group raised their target price on shares of Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $110.00 price target (up previously from $104.00) on shares of Celanese in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $113.28.
Celanese (NYSE:CE) last announced its earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 earnings per share. analysts forecast that Celanese Co. will post 8.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Friday, February 16th. Celanese’s payout ratio is 30.16%.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the chief financial officer now owns 52,924 shares of the company’s stock, valued at $5,821,640. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is 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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