Pennsylvania Trust Co bought a new stake in Celanese Co. (NYSE:CE) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,974 shares of the basic materials company’s stock, valued at approximately $450,000.
Other institutional investors also recently modified their holdings of the company. First PREMIER Bank increased its stake in shares of Celanese by 13.8% in the fourth quarter. First PREMIER Bank now owns 910 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 110 shares during the period. CWM LLC boosted its holdings in shares of Celanese by 18.4% in the fourth quarter. CWM LLC now owns 895 shares of the basic materials company’s stock valued at $81,000 after acquiring an additional 139 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Celanese by 12.1% in the fourth quarter. Parallel Advisors LLC now owns 1,311 shares of the basic materials company’s stock valued at $117,000 after acquiring an additional 141 shares in the last quarter. Signition LP boosted its holdings in shares of Celanese by 3.8% in the fourth quarter. Signition LP now owns 4,118 shares of the basic materials company’s stock valued at $370,000 after acquiring an additional 151 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC boosted its holdings in shares of Celanese by 1.6% in the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 11,325 shares of the basic materials company’s stock valued at $1,019,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.
Several research analysts have recently issued reports on CE shares. Zacks Investment Research cut shares of Celanese from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. UBS Group set a $126.00 price objective on shares of Celanese and gave the company a “buy” rating in a report on Tuesday, January 29th. KeyCorp decreased their price objective on shares of Celanese from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, January 30th. Robert W. Baird reiterated a “buy” rating and issued a $120.00 price objective on shares of Celanese in a report on Wednesday, January 30th. Finally, ValuEngine upgraded shares of Celanese from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Celanese has an average rating of “Hold” and an average target price of $119.53.
Celanese stock traded down $0.20 during midday trading on Wednesday, reaching $100.11. The stock had a trading volume of 827,160 shares, compared to its average volume of 1,146,543. Celanese Co. has a twelve month low of $82.91 and a twelve month high of $119.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 0.96 and a beta of 1.34.
Celanese (NYSE:CE) last released its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. Equities analysts forecast that Celanese Co. will post 10.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Monday, April 29th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, April 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Celanese’s previous quarterly dividend of $0.54. Celanese’s dividend payout ratio (DPR) is currently 22.55%.
In other news, Director John K. Wulff sold 9,175 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the transaction, the director now owns 19,872 shares in the company, valued at approximately $2,152,535.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.
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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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