Goldman Sachs Group Inc. lessened its stake in Celanese Co. (NYSE:CE) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,560,619 shares of the basic materials company’s stock after selling 103,694 shares during the period. Goldman Sachs Group Inc. owned 1.15% of Celanese worth $167,111,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Muhlenkamp & Co. Inc. raised its position in Celanese by 0.5% in the 4th quarter. Muhlenkamp & Co. Inc. now owns 109,880 shares of the basic materials company’s stock worth $11,766,000 after purchasing an additional 545 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in Celanese by 4.0% in the 4th quarter. Brandywine Global Investment Management LLC now owns 162,600 shares of the basic materials company’s stock worth $17,412,000 after purchasing an additional 6,282 shares during the last quarter. Caxton Associates LP raised its position in Celanese by 94.0% in the 4th quarter. Caxton Associates LP now owns 9,896 shares of the basic materials company’s stock worth $1,060,000 after purchasing an additional 4,796 shares during the last quarter. JOYN Advisors Inc. bought a new position in Celanese in the 4th quarter worth approximately $390,000. Finally, Nomura Asset Management Co. Ltd. raised its position in Celanese by 5.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,266 shares of the basic materials company’s stock worth $2,384,000 after purchasing an additional 1,189 shares during the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.
A number of research firms have commented on CE. Robert W. Baird reaffirmed a “buy” rating and set a $130.00 target price on shares of Celanese in a report on Monday, January 29th. Deutsche Bank reaffirmed a “buy” rating and set a $128.00 target price on shares of Celanese in a report on Monday, January 29th. UBS Group lifted their target price on shares of Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Citigroup lifted their target price on shares of Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $113.28.
Celanese (NYSE:CE) last announced its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 32.96%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business earned $1.52 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. sell-side analysts expect that Celanese Co. will post 8.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, February 16th. Celanese’s dividend payout ratio (DPR) is 30.16%.
In other news, CFO Christopher W. Jensen sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by insiders.
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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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