Private Trust Co. NA Has $93,000 Position in Celanese Co. (NYSE:CE)

Private Trust Co. NA cut its position in shares of Celanese Co. (NYSE:CE) by 22.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,344 shares of the basic materials company’s stock after selling 387 shares during the quarter. Private Trust Co. NA’s holdings in Celanese were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CE. UMB Bank n.a. raised its stake in shares of Celanese by 103.7% in the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares in 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 period. CENTRAL TRUST Co raised its position in Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 202 shares in the last quarter. Brooklyn Investment Group bought a new position in Celanese during the third quarter worth about $102,000. Finally, Millburn Ridgefield Corp bought a new position in Celanese during the third quarter worth about $103,000. 98.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CE shares. Piper Sandler lowered their price objective on Celanese from $77.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th. StockNews.com cut Celanese from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. UBS Group cut their price objective on Celanese from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Citigroup raised shares of Celanese to a “neutral” rating and upped their target price for the stock from $73.00 to $76.00 in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Celanese from $92.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Celanese presently has a consensus rating of “Hold” and a consensus price target of $76.31.

Celanese Price Performance

Shares of CE stock opened at $48.19 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -3.46, a PEG ratio of 1.05 and a beta of 1.17. The firm’s 50 day moving average is $66.25 and its 200-day moving average is $93.57. Celanese Co. has a 1 year low of $45.94 and a 1 year high of $172.16.

Celanese (NYSE:CE) last posted its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. Sell-side analysts forecast that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.25%. Celanese’s payout ratio is -0.86%.

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.