AMP Capital Investors Ltd reduced its position in Celanese Co. (NYSE:CE) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,715 shares of the basic materials company’s stock after selling 16,107 shares during the period. AMP Capital Investors Ltd owned about 0.09% of Celanese worth $13,461,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in Celanese in the 4th quarter worth approximately $11,151,000. Thrivent Financial For Lutherans raised its holdings in Celanese by 5.1% in the 4th quarter. Thrivent Financial For Lutherans now owns 93,388 shares of the basic materials company’s stock worth $10,000,000 after acquiring an additional 4,550 shares during the last quarter. Lyrical Asset Management LP raised its holdings in Celanese by 2.3% in the 4th quarter. Lyrical Asset Management LP now owns 3,094,039 shares of the basic materials company’s stock worth $331,310,000 after acquiring an additional 68,563 shares during the last quarter. Profund Advisors LLC raised its holdings in Celanese by 91.8% in the 4th quarter. Profund Advisors LLC now owns 12,152 shares of the basic materials company’s stock worth $1,301,000 after acquiring an additional 5,817 shares during the last quarter. Finally, Nicholas Investment Partners LP raised its stake in Celanese by 3.2% during the 4th quarter. Nicholas Investment Partners LP now owns 73,263 shares of the basic materials company’s stock valued at $7,845,000 after buying an additional 2,269 shares during the last quarter. Institutional investors own 95.83% of the company’s stock.
A number of brokerages have weighed in on CE. UBS Group boosted their target price on shares of Celanese from $107.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. SunTrust Banks reiterated a “buy” rating on shares of Celanese in a research note on Wednesday, January 17th. Zacks Investment Research lowered shares of Celanese from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tudor Pickering began coverage on shares of Celanese in a research note on Tuesday, November 14th. They set a “buy” rating for the company. Finally, Robert W. Baird reiterated a “buy” rating and set a $130.00 target price on shares of Celanese in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $113.28.
Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 32.96%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. sell-side analysts forecast that Celanese Co. will post 8.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, February 16th. Celanese’s payout ratio is 26.86%.
In related news, CFO Christopher W. Jensen sold 3,000 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.42% of the company’s stock.
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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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