Norges Bank acquired a new stake in shares of Celanese Co. (NYSE:CE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,595,786 shares of the basic materials company’s stock, valued at approximately $207,356,000.
A number of other hedge funds also recently modified their holdings of CE. Vantage Consulting Group Inc purchased a new stake in Celanese during the fourth quarter valued at approximately $31,000. Perigon Wealth Management LLC purchased a new stake in Celanese during the fourth quarter valued at approximately $41,000. Ellevest Inc. grew its stake in shares of Celanese by 264.8% during the fourth 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 last quarter. Kinloch Capital LLC bought a new position in shares of Celanese during the fourth quarter valued at approximately $44,000. Finally, Tompkins Financial Corp bought a new position in shares of Celanese during the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 97.51% of the company’s stock.
CE has been the topic of a number of analyst reports. Morgan Stanley upped their target price on Celanese from $130.00 to $150.00 and gave the company an “equal weight” rating in a research note on Thursday, April 1st. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Tuesday, March 30th. Citigroup cut their target price on Celanese from $152.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, February 1st. BMO Capital Markets raised Celanese from a “market perform” rating to an “outperform” rating and upped their target price for the company from $119.00 to $155.00 in a research note on Tuesday, January 5th. Finally, Barclays increased their price objective on Celanese from $145.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Celanese has a consensus rating of “Buy” and a consensus price target of $130.74.
Celanese (NYSE:CE) last issued its quarterly earnings data on Wednesday, January 27th. The basic materials company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.72 by $0.37. Celanese had a return on equity of 31.41% and a net margin of 10.46%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $1.99 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that Celanese Co. will post 7.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 23rd. Investors of record on Tuesday, February 9th were paid a $0.68 dividend. This is a positive change from Celanese’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, February 8th. This represents a $2.72 dividend on an annualized basis and a yield of 1.80%. Celanese’s dividend payout ratio (DPR) is 28.54%.
In related news, Director John K. Wulff sold 750 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $133.55, for a total value of $100,162.50. Following the completion of the transaction, the director now owns 17,221 shares in the company, valued at approximately $2,299,864.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.69% of the company’s stock.
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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