BI Asset Management Fondsmaeglerselskab A S Acquires 11,300 Shares of Celanese Co. (NYSE:CE)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Celanese Co. (NYSE:CE) by 316.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,869 shares of the basic materials company’s stock after purchasing an additional 11,300 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Celanese were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Celanese by 14.0% during the 3rd quarter. Barclays PLC now owns 281,709 shares of the basic materials company’s stock worth $38,300,000 after purchasing an additional 34,658 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in Celanese by 29.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 17,397 shares of the basic materials company’s stock worth $2,365,000 after buying an additional 3,906 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Celanese in the third quarter worth approximately $179,000. Oddo BHF Asset Management Sas acquired a new stake in Celanese in the third quarter valued at approximately $1,302,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Celanese by 11.8% during the third quarter. Principal Financial Group Inc. now owns 128,201 shares of the basic materials company’s stock valued at $17,430,000 after acquiring an additional 13,503 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.

Celanese Trading Up 5.5 %

NYSE CE opened at $41.48 on Wednesday. The business’s fifty day moving average is $51.05 and its 200-day moving average is $73.12. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -2.98, a PEG ratio of 1.05 and a beta of 1.08. Celanese Co. has a one year low of $36.29 and a one year high of $169.50.

Celanese (NYSE:CE) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.25 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 $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Equities research analysts predict that Celanese Co. will post 8.79 EPS for the current year.

Celanese Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Monday, April 28th. Celanese’s dividend payout ratio (DPR) is -0.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Celanese from $55.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley dropped their price objective on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut shares of Celanese from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $84.00 to $56.00 in a report on Thursday, February 20th. UBS Group lowered their target price on shares of Celanese from $60.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Piper Sandler reiterated an “underweight” rating and set a $48.00 price target (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.33.

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.