Wakefield Asset Management LLLP acquired a new stake in Celanese Co. (NYSE:CE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 33,878 shares of the basic materials company’s stock, valued at approximately $3,048,000. Celanese makes up approximately 1.3% of Wakefield Asset Management LLLP’s portfolio, making the stock its 22nd biggest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in Celanese by 23.1% in the 4th quarter. Nuveen Asset Management LLC now owns 273,162 shares of the basic materials company’s stock valued at $24,576,000 after acquiring an additional 51,275 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Celanese by 20.1% in the 4th quarter. DNB Asset Management AS now owns 23,991 shares of the basic materials company’s stock valued at $2,158,000 after purchasing an additional 4,011 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Celanese by 106.6% in the 3rd quarter. GSA Capital Partners LLP now owns 21,318 shares of the basic materials company’s stock valued at $2,430,000 after purchasing an additional 11,002 shares during the last quarter. Daiwa SB Investments Ltd. boosted its stake in shares of Celanese by 121.8% in the 4th quarter. Daiwa SB Investments Ltd. now owns 1,730 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 950 shares during the last quarter. Finally, Coastline Trust Co boosted its stake in shares of Celanese by 2.8% in the 4th quarter. Coastline Trust Co now owns 9,255 shares of the basic materials company’s stock valued at $833,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 96.45% of the company’s stock.
CE stock traded down $1.02 during mid-day trading on Monday, hitting $97.12. 6,292 shares of the company were exchanged, compared to its average volume of 955,830. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.03 and a current ratio of 1.62. The company has a market capitalization of $12.57 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.33. Celanese Co. has a 1-year low of $82.91 and a 1-year high of $119.29.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, February 15th. This represents a $2.16 annualized dividend and a yield of 2.22%. Celanese’s dividend payout ratio (DPR) is currently 19.64%.
Several research analysts have recently issued reports on CE shares. Stifel Nicolaus started coverage on shares of Celanese in a research note on Monday, December 10th. They issued a “hold” rating and a $100.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $118.00 target price on shares of Celanese in a research note on Thursday, December 20th. Alembic Global Advisors reaffirmed a “sell” rating on shares of Celanese in a research note on Thursday, December 20th. Zacks Investment Research reissued a “hold” rating on shares of Celanese in a research note on Monday, December 31st. Finally, BMO Capital Markets lowered shares of Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 price objective on the stock. in a research note on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Celanese has a consensus rating of “Hold” and a consensus target price of $115.24.
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Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.
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