James Investment Research Inc. acquired a new stake in Celanese Corporation (NYSE:CE – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,484 shares of the basic materials company’s stock, valued at approximately $887,000.
Several other hedge funds have also recently bought and sold shares of CE. JPMorgan Chase & Co. raised its stake in shares of Celanese by 12.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 259,196 shares of the basic materials company’s stock valued at $10,907,000 after acquiring an additional 29,392 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Celanese by 21.5% during the third quarter. Russell Investments Group Ltd. now owns 1,214,487 shares of the basic materials company’s stock worth $51,104,000 after purchasing an additional 214,632 shares during the period. QSM Asset Management Ltd boosted its position in Celanese by 102.2% during the fourth quarter. QSM Asset Management Ltd now owns 84,698 shares of the basic materials company’s stock worth $3,581,000 after purchasing an additional 42,800 shares during the period. Capital Research Global Investors grew its holdings in Celanese by 24.0% during the fourth quarter. Capital Research Global Investors now owns 5,565,556 shares of the basic materials company’s stock valued at $235,312,000 after purchasing an additional 1,076,645 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Celanese by 113.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 152,291 shares of the basic materials company’s stock valued at $6,439,000 after purchasing an additional 80,827 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.
Celanese Price Performance
Shares of Celanese stock opened at $47.62 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.38 and a quick ratio of 0.85. The company has a market cap of $5.22 billion, a PE ratio of -4.76, a price-to-earnings-growth ratio of 0.26 and a beta of 0.76. The firm has a fifty day moving average price of $54.92 and a two-hundred day moving average price of $53.49. Celanese Corporation has a fifty-two week low of $35.13 and a fifty-two week high of $70.70.
Celanese Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, April 27th were given a $0.03 dividend. The ex-dividend date was Monday, April 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Celanese’s dividend payout ratio (DPR) is currently -1.20%.
Analysts Set New Price Targets
Several analysts recently issued reports on CE shares. Zacks Research raised shares of Celanese from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Bank of America cut their target price on shares of Celanese from $72.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Celanese from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celanese in a research note on Tuesday, May 26th. Finally, Mizuho dropped their price objective on Celanese from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Celanese currently has an average rating of “Moderate Buy” and an average price target of $65.69.
Read Our Latest Stock Analysis on Celanese
Celanese Company Profile
Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.
In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.
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