Freedom Day Solutions LLC decreased its position in shares of Celanese Co. (NYSE:CE – Get Rating) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,734 shares of the basic materials company’s stock after selling 271 shares during the period. Freedom Day Solutions LLC’s holdings in Celanese were worth $1,468,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CE. Mascoma Wealth Management LLC purchased a new stake in Celanese during the 4th quarter worth $26,000. CVA Family Office LLC bought a new stake in shares of Celanese in the 4th quarter worth about $26,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Celanese by 115.4% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 168 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 90 shares during the last quarter. Assetmark Inc. increased its position in shares of Celanese by 1,376.9% in the 3rd quarter. Assetmark Inc. now owns 192 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 179 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its position in shares of Celanese by 55.9% in the 4th quarter. Baystate Wealth Management LLC now owns 184 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 66 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $175.00 target price (down previously from $185.00) on shares of Celanese in a research report on Sunday, February 20th. Royal Bank of Canada boosted their target price on shares of Celanese from $198.00 to $206.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 1st. Piper Sandler downgraded shares of Celanese from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $180.00 to $140.00 in a research report on Tuesday, February 22nd. Citigroup boosted their price objective on shares of Celanese from $198.00 to $206.00 in a research report on Tuesday, January 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Celanese from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, February 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $187.50.
Celanese stock traded down $4.23 during midday trading on Monday, reaching $138.48. 10,127 shares of the stock traded hands, compared to its average volume of 945,197. The company has a current ratio of 1.52, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $143.21 and a two-hundred day moving average price of $156.39. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 8.42 and a beta of 1.30. Celanese Co. has a fifty-two week low of $132.26 and a fifty-two week high of $176.50.
Celanese (NYSE:CE – Get Rating) last posted its earnings results on Thursday, January 27th. The basic materials company reported $4.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.14). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.26 billion. Celanese had a net margin of 22.14% and a return on equity of 48.17%. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 earnings per share. Analysts anticipate that Celanese Co. will post 15.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 12th. Stockholders of record on Thursday, April 28th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, April 27th. Celanese’s dividend payout ratio is currently 16.06%.
Celanese Profile (Get Rating)
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 three segments: Engineered Materials, Acetate Tow, and Acetyl Chain. 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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