Two Sigma Advisers LP reduced its stake in shares of Celanese (NYSE:CE) by 69.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,050 shares of the basic materials company’s stock after selling 6,984 shares during the quarter. Two Sigma Advisers LP’s holdings in Celanese were worth $327,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Gateway Investment Advisers LLC boosted its stake in shares of Celanese by 27.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 77,739 shares of the basic materials company’s stock valued at $8,324,000 after purchasing an additional 16,668 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Celanese by 34.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 6,019 shares of the basic materials company’s stock valued at $644,000 after acquiring an additional 1,527 shares in the last quarter. Muhlenkamp & Co. Inc. raised its holdings in shares of Celanese by 0.5% in the fourth quarter. Muhlenkamp & Co. Inc. now owns 109,880 shares of the basic materials company’s stock valued at $11,766,000 after acquiring an additional 545 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Celanese by 25.2% in the fourth quarter. First Trust Advisors LP now owns 186,106 shares of the basic materials company’s stock valued at $19,928,000 after acquiring an additional 37,427 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in shares of Celanese by 5.5% in the fourth quarter. State of Wisconsin Investment Board now owns 113,680 shares of the basic materials company’s stock valued at $12,173,000 after acquiring an additional 5,911 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on CE shares. Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a report on Tuesday, January 23rd. Wells Fargo restated a “market perform” rating and issued a $110.00 price objective (up from $104.00) on shares of Celanese in a report on Wednesday, January 17th. Citigroup lifted their price objective on Celanese from $123.00 to $128.00 and gave the company a “buy” rating in a report on Monday, January 29th. Jefferies Group restated a “buy” rating and issued a $130.00 price objective on shares of Celanese in a report on Monday, January 29th. Finally, Deutsche Bank restated a “buy” rating and issued a $128.00 price objective on shares of Celanese in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $116.60.
Celanese (NYSE:CE) last announced its earnings results on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.46. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.66 billion. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 earnings per share. sell-side analysts anticipate that Celanese will post 9.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Monday, April 30th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, April 27th. This is an increase from Celanese’s previous quarterly dividend of $0.46. This represents a $2.16 dividend on an annualized basis and a yield of 1.93%. Celanese’s payout ratio is currently 24.50%.
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Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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