Dimensional Fund Advisors LP grew its holdings in Celanese Corporation (NYSE:CE – Free Report) by 83.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,187,235 shares of the basic materials company’s stock after acquiring an additional 993,193 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Celanese were worth $143,849,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in CE. Childress Capital Advisors LLC increased its position in Celanese by 3.6% in the 1st quarter. Childress Capital Advisors LLC now owns 5,587 shares of the basic materials company’s stock valued at $367,000 after acquiring an additional 192 shares during the period. AdvisorNet Financial Inc raised its stake in Celanese by 14.5% during the 1st quarter. AdvisorNet Financial Inc now owns 1,815 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 230 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Celanese by 20.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,399 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 240 shares during the period. Bessemer Group Inc. lifted its position in Celanese by 7.1% during the 1st quarter. Bessemer Group Inc. now owns 3,970 shares of the basic materials company’s stock worth $262,000 after acquiring an additional 262 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Celanese by 8.9% in the 4th quarter. Blue Trust Inc. now owns 3,244 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 265 shares during the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.
Celanese Stock Down 0.1%
CE opened at $46.38 on Monday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.38 and a quick ratio of 0.85. The business has a 50 day simple moving average of $49.99 and a 200-day simple moving average of $54.03. The stock has a market capitalization of $5.09 billion, a P/E ratio of -4.63, a P/E/G ratio of 0.29 and a beta of 0.76. Celanese Corporation has a 12 month low of $35.13 and a 12 month high of $70.70.
Celanese Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 28th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, July 28th. Celanese’s payout ratio is presently -1.20%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Celanese from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Royal Bank Of Canada increased their price target on Celanese from $66.00 to $68.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. BMO Capital Markets lowered their price objective on shares of Celanese from $80.00 to $57.00 and set a “market perform” rating on the stock in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on shares of Celanese from $53.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, UBS Group upped their price objective on shares of Celanese from $58.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Celanese has a consensus rating of “Moderate Buy” and an average price target of $65.94.
Read Our Latest Stock Analysis on CE
Celanese 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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