Caisse DE Depot ET Placement DU Quebec lowered its position in shares of Celanese Co. (NYSE:CE) by 18.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,100 shares of the basic materials company’s stock after selling 5,600 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Celanese were worth $2,688,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Gateway Investment Advisers LLC lifted its holdings in Celanese by 27.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 77,739 shares of the basic materials company’s stock worth $8,324,000 after buying an additional 16,668 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Celanese by 1.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 434,546 shares of the basic materials company’s stock worth $45,310,000 after buying an additional 5,242 shares during the period. Macquarie Group Ltd. lifted its holdings in Celanese by 10.2% during the 3rd quarter. Macquarie Group Ltd. now owns 157,840 shares of the basic materials company’s stock worth $16,458,000 after buying an additional 14,650 shares during the period. Swiss National Bank lifted its holdings in Celanese by 0.5% during the 3rd quarter. Swiss National Bank now owns 516,230 shares of the basic materials company’s stock worth $53,827,000 after buying an additional 2,700 shares during the period. Finally, Caxton Associates LP acquired a new position in Celanese during the 3rd quarter worth about $532,000. Institutional investors and hedge funds own 95.83% of the company’s stock.
In related news, CFO Christopher W. Jensen sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the chief financial officer now directly owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.
Celanese (NYSE:CE) last announced 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. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. sell-side analysts predict 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. Investors of record on Tuesday, February 20th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Friday, February 16th. Celanese’s dividend payout ratio (DPR) is currently 26.86%.
Several brokerages 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 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 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 Celanese from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Celanese presently has an average rating of “Buy” and an average target price of $113.28.
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Celanese Company Profile
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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