California State Teachers Retirement System Cuts Holdings in Celanese Co. (CE)

California State Teachers Retirement System lowered its stake in Celanese Co. (NYSE:CE) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 215,399 shares of the basic materials company’s stock after selling 6,719 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Celanese worth $19,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CE. Brown Advisory Inc. raised its holdings in shares of Celanese by 23.7% in the fourth quarter. Brown Advisory Inc. now owns 11,986 shares of the basic materials company’s stock valued at $1,078,000 after purchasing an additional 2,296 shares during the last quarter. Covey Capital Advisors LLC raised its holdings in shares of Celanese by 5.3% in the fourth quarter. Covey Capital Advisors LLC now owns 35,619 shares of the basic materials company’s stock valued at $3,204,000 after purchasing an additional 1,792 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Celanese by 22.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 937,919 shares of the basic materials company’s stock valued at $84,386,000 after purchasing an additional 171,049 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Celanese by 59.9% in the fourth quarter. United Services Automobile Association now owns 61,572 shares of the basic materials company’s stock valued at $5,540,000 after purchasing an additional 23,070 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Celanese in the fourth quarter valued at approximately $1,384,000. 96.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on CE shares. Stifel Nicolaus started coverage on shares of Celanese in a report on Monday, December 10th. They issued a “hold” rating and a $100.00 price objective on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $118.00 price objective on shares of Celanese in a report on Thursday, December 20th. Alembic Global Advisors reiterated a “sell” rating on shares of Celanese in a report on Thursday, December 20th. Zacks Investment Research reiterated a “hold” rating on shares of Celanese in a report on Monday, December 31st. Finally, BMO Capital Markets downgraded shares of Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 target price on the stock. in a report on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $115.24.

Shares of CE opened at $101.23 on Friday. The firm has a market cap of $12.97 billion, a P/E ratio of 9.20, a PEG ratio of 0.97 and a beta of 1.33. Celanese Co. has a 1-year low of $82.91 and a 1-year high of $119.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.03 and a current ratio of 1.62.

Celanese (NYSE:CE) last issued its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.02). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.72 billion. Celanese had a return on equity of 40.37% and a net margin of 16.87%. Celanese’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, analysts predict that Celanese Co. will post 10.41 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, February 15th. This represents a $2.16 annualized dividend and a dividend yield of 2.13%. Celanese’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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