OMERS ADMINISTRATION Corp Raises Position in Celanese Co. (NYSE:CE)

OMERS ADMINISTRATION Corp increased its holdings in Celanese Co. (NYSE:CE) by 21.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,373 shares of the basic materials company’s stock after buying an additional 769 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Celanese were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Focus Partners Wealth increased its stake in Celanese by 3.9% in the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 156 shares during the last quarter. United Capital Financial Advisors LLC increased its stake in Celanese by 2.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 172 shares during the last quarter. CKW Financial Group increased its stake in Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares during the last quarter. Blue Trust Inc. increased its stake in Celanese by 15.0% in the fourth quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 192 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

Shares of CE opened at $52.43 on Tuesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. Celanese Co. has a one year low of $36.29 and a one year high of $157.74. The company has a 50-day simple moving average of $48.40 and a two-hundred day simple moving average of $61.64. The firm has a market capitalization of $5.73 billion, a PE ratio of -3.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business posted $2.08 earnings per share. Celanese’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were issued a $0.03 dividend. The ex-dividend date was Monday, April 28th. This represents a $0.12 annualized dividend and a yield of 0.23%. Celanese’s dividend payout ratio (DPR) is presently -0.79%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CE. StockNews.com raised Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. BMO Capital Markets reduced their price objective on Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Celanese from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Piper Sandler reaffirmed an “underweight” rating and set a $48.00 price objective (down from $50.00) on shares of Celanese in a research note on Monday, April 7th. Finally, Mizuho set a $45.00 price objective on Celanese in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.44.

About Celanese

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.