Sequoia Financial Advisors LLC Increases Stock Position in Celanese Co. (NYSE:CE)

Sequoia Financial Advisors LLC raised its position in Celanese Co. (NYSE:CE) by 44.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,440 shares of the basic materials company’s stock after acquiring an additional 1,374 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Celanese were worth $690,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CE. Avitas Wealth Management LLC raised its position in Celanese by 1.9% during the 4th quarter. Avitas Wealth Management LLC now owns 10,273 shares of the basic materials company’s stock valued at $1,596,000 after purchasing an additional 187 shares during the last quarter. Arizona State Retirement System lifted its stake in Celanese by 0.8% in the fourth quarter. Arizona State Retirement System now owns 28,421 shares of the basic materials company’s stock worth $4,416,000 after acquiring an additional 225 shares during the period. Hartford Investment Management Co. boosted its holdings in Celanese by 1.9% in the fourth quarter. Hartford Investment Management Co. now owns 6,792 shares of the basic materials company’s stock valued at $1,055,000 after acquiring an additional 127 shares in the last quarter. Columbus Macro LLC purchased a new position in Celanese during the 4th quarter valued at $209,000. Finally, Blue Trust Inc. raised its holdings in Celanese by 139.6% in the 4th quarter. Blue Trust Inc. now owns 896 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

Shares of CE opened at $155.78 on Tuesday. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.62 and a beta of 1.36. The business’s fifty day simple moving average is $157.59 and its two-hundred day simple moving average is $143.28. Celanese Co. has a 12 month low of $99.33 and a 12 month high of $172.16. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 1.63.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.05). Celanese had a net margin of 17.92% and a return on equity of 14.61%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $1.44 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, February 16th. Celanese’s dividend payout ratio is currently 15.64%.

Insider Buying and Selling at Celanese

In other news, SVP Mark Christopher Murray bought 597 shares of the company’s stock in a transaction on Friday, March 8th. The shares were acquired at an average cost of $156.43 per share, with a total value of $93,388.71. Following the completion of the transaction, the senior vice president now owns 11,600 shares of the company’s stock, valued at approximately $1,814,588. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Celanese news, SVP Mark Christopher Murray acquired 597 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of $156.43 per share, with a total value of $93,388.71. Following the transaction, the senior vice president now directly owns 11,600 shares in the company, valued at approximately $1,814,588. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Thomas Francis Kelly purchased 1,400 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $156.69 per share, with a total value of $219,366.00. Following the acquisition, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CE. Piper Sandler raised shares of Celanese from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $135.00 to $170.00 in a research note on Monday, February 26th. Royal Bank of Canada reduced their target price on Celanese from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Wells Fargo & Company raised their target price on Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. KeyCorp upped their price target on Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Citigroup raised their price objective on Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Celanese has an average rating of “Hold” and an average price target of $149.22.

Celanese Company Profile

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.