Goldman Sachs Group Inc. Sells 13,933 Shares of Celanese Co. (NYSE:CE)

Goldman Sachs Group Inc. lowered its stake in shares of Celanese Co. (NYSE:CEFree Report) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 759,851 shares of the basic materials company’s stock after selling 13,933 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Celanese were worth $118,058,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CE. Johnson Financial Group Inc. bought a new stake in Celanese during the fourth quarter valued at about $28,000. Asset Dedication LLC boosted its holdings in Celanese by 180.0% in the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 144 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its holdings in Celanese by 142.1% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in Celanese by 100.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 94 shares in the last quarter. Finally, Provence Wealth Management Group acquired a new stake in Celanese in the third quarter worth about $32,000. Institutional investors own 98.87% of the company’s stock.

Celanese Price Performance

Shares of Celanese stock traded down $4.75 on Friday, reaching $139.39. The company’s stock had a trading volume of 710,430 shares, compared to its average volume of 576,735. The company has a market capitalization of $15.22 billion, a P/E ratio of 7.67, a PEG ratio of 0.58 and a beta of 1.34. Celanese Co. has a 52-week low of $105.15 and a 52-week high of $172.16. The stock has a 50-day moving average price of $154.19 and a 200-day moving average price of $152.77. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46.

Celanese (NYSE:CEGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 earnings per share. Analysts expect that Celanese Co. will post 11.39 EPS for the current year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, April 29th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, April 26th. Celanese’s dividend payout ratio (DPR) is currently 15.41%.

Analyst Ratings Changes

Several brokerages have weighed in on CE. Bank of America lowered their price target on Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a report on Monday, June 10th. Royal Bank of Canada raised their price target on Celanese from $171.00 to $176.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. KeyCorp raised their price objective on Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $160.00 price objective (up from $135.00) on shares of Celanese in a research note on Thursday, April 4th. Finally, StockNews.com upgraded Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Celanese currently has an average rating of “Hold” and an average price target of $161.41.

Read Our Latest Report on CE

About Celanese

(Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials 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.

See Also

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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