Curbstone Financial Management Corp Decreases Stock Holdings in Celanese Co. (NYSE:CE)

Curbstone Financial Management Corp lessened its stake in shares of Celanese Co. (NYSE:CE) by 7.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,030 shares of the basic materials company’s stock after selling 1,050 shares during the period. Curbstone Financial Management Corp’s holdings in Celanese were worth $2,102,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc purchased a new stake in Celanese during the 4th quarter valued at $31,000. Perigon Wealth Management LLC purchased a new stake in Celanese during the 4th quarter valued at $41,000. Ellevest Inc. raised its holdings in Celanese by 264.8% during the 4th quarter. Ellevest Inc. now owns 321 shares of the basic materials company’s stock valued at $42,000 after buying an additional 233 shares during the period. Kinloch Capital LLC purchased a new stake in Celanese during the 4th quarter valued at $44,000. Finally, Tompkins Financial Corp purchased a new stake in Celanese during the 4th quarter valued at $67,000. Institutional investors own 97.51% of the company’s stock.

CE stock traded down $1.82 during trading on Thursday, reaching $149.18. 2,029 shares of the company traded hands, compared to its average volume of 877,314. Celanese Co. has a 12 month low of $69.69 and a 12 month high of $155.62. The business has a 50 day simple moving average of $145.10 and a 200 day simple moving average of $130.20. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 2.43 and a beta of 1.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 1.15.

Celanese (NYSE:CE) last issued its quarterly earnings data on Wednesday, January 27th. The basic materials company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.37. Celanese had a return on equity of 31.41% and a net margin of 10.46%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company earned $1.99 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Celanese Co. will post 7.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 23rd. Investors of record on Tuesday, February 9th were given a dividend of $0.68 per share. The ex-dividend date was Monday, February 8th. This represents a $2.72 dividend on an annualized basis and a yield of 1.82%. This is an increase from Celanese’s previous quarterly dividend of $0.62. Celanese’s dividend payout ratio (DPR) is presently 28.54%.

In related news, Director John K. Wulff sold 750 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $133.55, for a total transaction of $100,162.50. Following the sale, the director now owns 17,221 shares of the company’s stock, valued at $2,299,864.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Tuesday, March 30th. Morgan Stanley upped their price objective on Celanese from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, April 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Celanese from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, March 31st. Citigroup cut their price objective on Celanese from $152.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, February 1st. Finally, Wells Fargo & Company upped their price objective on Celanese from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, March 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $130.74.

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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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