Capital World Investors decreased its stake in shares of Celanese Corporation (NYSE:CE – Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,284,869 shares of the basic materials company’s stock after selling 29,189 shares during the period. Capital World Investors owned approximately 1.17% of Celanese worth $54,324,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in Celanese by 111.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock valued at $28,000 after buying an additional 270 shares during the period. Smartleaf Asset Management LLC increased its stake in Celanese by 100.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 662 shares of the basic materials company’s stock valued at $38,000 after buying an additional 331 shares during the period. National Bank of Canada FI acquired a new position in Celanese during the 3rd quarter valued at about $34,000. Hartford Financial Management Inc. increased its stake in Celanese by 350.5% during the 4th quarter. Hartford Financial Management Inc. now owns 901 shares of the basic materials company’s stock valued at $38,000 after buying an additional 701 shares during the period. Finally, Danske Bank A S acquired a new position in Celanese during the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 98.87% of the company’s stock.
Celanese Stock Performance
Celanese stock opened at $51.07 on Wednesday. The firm’s 50 day simple moving average is $59.98 and its 200-day simple moving average is $52.41. The company has a market cap of $5.60 billion, a P/E ratio of -5.10, a price-to-earnings-growth ratio of 0.30 and a beta of 0.73. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.38 and a quick ratio of 0.85. Celanese Corporation has a fifty-two week low of $35.13 and a fifty-two week high of $70.70.
Celanese Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, April 27th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, April 27th. Celanese’s dividend payout ratio (DPR) is currently -1.20%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on CE shares. Evercore set a $63.00 target price on shares of Celanese in a research note on Wednesday, February 18th. Robert W. Baird raised their target price on shares of Celanese from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, March 27th. UBS Group raised their target price on shares of Celanese from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celanese in a research note on Tuesday, May 26th. Finally, Morgan Stanley raised their target price on shares of Celanese from $50.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.81.
Get Our Latest Stock Report on CE
Celanese Company Profile
Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.
In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.
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