Nomura Asset Management Co. Ltd. boosted its holdings in Celanese Co. (NYSE:CE) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,266 shares of the basic materials company’s stock after acquiring an additional 1,189 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Celanese were worth $2,384,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of CE. First PREMIER Bank increased its stake in shares of Celanese by 900.0% in the fourth quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 900 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Celanese in the fourth quarter valued at approximately $129,000. Wellington Shields & Co. LLC acquired a new stake in shares of Celanese in the fourth quarter valued at approximately $203,000. IBM Retirement Fund acquired a new stake in shares of Celanese in the third quarter valued at approximately $217,000. Finally, Barrett Asset Management LLC increased its stake in shares of Celanese by 40.0% in the third quarter. Barrett Asset Management LLC now owns 2,100 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 600 shares during the period. 95.82% of the stock is currently owned by hedge funds and other institutional investors.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of Celanese stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the chief financial officer now owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.
Celanese Co. (NYSE:CE) traded down $1.62 during trading on Friday, reaching $98.76. 206,443 shares of the company’s stock traded hands, compared to its average volume of 679,781. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.21 and a current ratio of 1.79. The firm has a market capitalization of $14,135.83, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. Celanese Co. has a 12-month low of $83.34 and a 12-month high of $114.00.
Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.12. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese had a net margin of 13.73% and a return on equity of 32.96%. 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 business posted $1.52 earnings per share. analysts predict that Celanese Co. will post 8.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.84 annualized dividend and a yield of 1.86%. Celanese’s dividend payout ratio (DPR) is 30.16%.
Several equities research analysts have commented on the stock. KeyCorp raised their price target on shares of Celanese from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird reiterated a “buy” rating and set a $130.00 price objective on shares of Celanese in a research note on Monday, January 29th. Deutsche Bank reiterated a “buy” rating and set a $128.00 price objective on shares of Celanese in a research note on Monday, January 29th. Jefferies Group reiterated a “buy” rating and set a $130.00 price objective on shares of Celanese in a research note on Monday, January 29th. Finally, Citigroup raised their price objective on shares of Celanese from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Celanese currently has a consensus rating of “Buy” and a consensus target price of $114.16.
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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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