Celanese Co. (NYSE:CE) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its position in shares of Celanese Co. (NYSE:CE) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 498,050 shares of the basic materials company’s stock after selling 971 shares during the quarter. Corient Private Wealth LLC owned 0.46% of Celanese worth $77,374,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CE. EverSource Wealth Advisors LLC increased its stake in Celanese by 83.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 103 shares in the last quarter. Asset Dedication LLC grew its stake in Celanese by 180.0% in the 3rd quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 144 shares during the last quarter. Desjardins Global Asset Management Inc. increased its holdings in Celanese by 142.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Celanese by 100.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 94 shares during the last quarter. Finally, Provence Wealth Management Group acquired a new stake in shares of Celanese in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Insider Buying and Selling

In related news, SVP Thomas Francis Kelly purchased 1,400 shares of Celanese stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $156.69 per share, with a total value of $219,366.00. Following the completion of the transaction, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at $8,934,933.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas Francis Kelly bought 1,400 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $156.69 per share, with a total value of $219,366.00. Following the transaction, the senior vice president now owns 57,023 shares in the company, valued at $8,934,933.87. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

Celanese Stock Performance

Shares of CE traded down $0.87 during midday trading on Tuesday, hitting $155.66. 45,495 shares of the stock traded hands, compared to its average volume of 693,675. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. Celanese Co. has a 1-year low of $103.23 and a 1-year high of $172.16. The business’s 50 day moving average price is $160.56 and its two-hundred day moving average price is $150.05. The firm has a market capitalization of $17.00 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37.

Celanese (NYSE:CE) last released its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. Celanese had a return on equity of 14.00% and a net margin of 18.60%. Celanese’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 earnings per share. Equities research analysts predict that Celanese Co. will post 11.35 EPS for the current fiscal year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.80%. Celanese’s dividend payout ratio is currently 15.41%.

Analyst Upgrades and Downgrades

CE has been the topic of several recent research reports. Tudor, Pickering, Holt & Co. downgraded Celanese from a “buy” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research report on Thursday, February 22nd. BMO Capital Markets raised their target price on shares of Celanese from $153.00 to $158.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 14th. Barclays downgraded Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price target for the company. in a report on Thursday, April 4th. Piper Sandler lifted their price objective on Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird upped their target price on Celanese from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Celanese presently has a consensus rating of “Hold” and a consensus price target of $156.78.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.