Comerica Bank grew its position in Celanese Co. (NYSE:CE) by 143.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,854 shares of the basic materials company’s stock after acquiring an additional 19,957 shares during the period. Comerica Bank’s holdings in Celanese were worth $3,259,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Baystate Wealth Management LLC raised its position in shares of Celanese by 200.9% during the 4th quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 221 shares during the last quarter. Strategic Wealth Partners Ltd. raised its position in shares of Celanese by 472.8% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 716 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 591 shares during the last quarter. CWM LLC raised its position in shares of Celanese by 18.4% during the 4th quarter. CWM LLC now owns 895 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 139 shares during the last quarter. First PREMIER Bank raised its position in shares of Celanese by 13.8% during the 4th quarter. First PREMIER Bank now owns 910 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 110 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Celanese by 38.0% during the 4th quarter. IFP Advisors Inc now owns 1,173 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 98.19% of the company’s stock.
CE stock opened at $102.29 on Friday. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.62 and a quick ratio of 1.03. Celanese Co. has a 12 month low of $82.91 and a 12 month high of $119.29.
Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.02). Celanese had a net margin of 16.87% and a return on equity of 40.37%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company earned $1.98 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that Celanese Co. will post 10.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, February 15th. This represents a $2.16 annualized dividend and a dividend yield of 2.11%. Celanese’s dividend payout ratio (DPR) is 19.64%.
A number of analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Celanese in a report on Monday, December 10th. They issued a “hold” rating and a $100.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $118.00 price objective on shares of Celanese in a report on Thursday, December 20th. Alembic Global Advisors reiterated a “sell” rating on shares of Celanese in a report on Thursday, December 20th. Zacks Investment Research reiterated a “hold” rating on shares of Celanese in a report on Monday, December 31st. Finally, BMO Capital Markets downgraded shares of Celanese from an “outperform” rating to a “market perform” rating and set a $107.00 price objective for the company. in a report on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $115.24.
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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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