Signet Financial Management LLC Trims Stock Position in Celanese Co. (NYSE:CE)

Signet Financial Management LLC lessened its holdings in shares of Celanese Co. (NYSE:CE) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,149 shares of the basic materials company’s stock after selling 496 shares during the period. Signet Financial Management LLC’s holdings in Celanese were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CE. Parkside Financial Bank & Trust raised its holdings in shares of Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Certified Advisory Corp purchased a new position in shares of Celanese during the first quarter worth $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of Celanese by 83.7% during the third quarter. EverSource Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 103 shares during the last quarter. Asset Dedication LLC grew its position in Celanese by 180.0% during the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after buying an additional 144 shares during the period. Finally, Provence Wealth Management Group acquired a new stake in Celanese during the third quarter valued at $32,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Price Performance

Shares of CE stock opened at $155.00 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.95. The firm’s 50-day moving average is $157.73 and its two-hundred day moving average is $143.49. Celanese Co. has a 12 month low of $99.33 and a 12 month high of $172.16. The company has a market capitalization of $16.88 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 0.62 and a beta of 1.36.

Celanese (NYSE:CE) last released its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Celanese had a net margin of 17.92% and a return on equity of 14.61%. Celanese’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share. Analysts predict that Celanese Co. will post 11.47 earnings per share for the current year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 16th. Celanese’s dividend payout ratio (DPR) is 15.64%.

Insider Activity

In other Celanese news, SVP Thomas Francis Kelly acquired 1,400 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the acquisition, the senior vice president now owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total transaction of $313,700.00. Following the completion of the transaction, the chief operating officer now owns 76,429 shares in the company, valued at approximately $11,987,888.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas Francis Kelly purchased 1,400 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $156.69 per share, with a total value of $219,366.00. Following the acquisition, the senior vice president now directly owns 57,023 shares in the company, valued at $8,934,933.87. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CE shares. StockNews.com upgraded shares of Celanese from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Robert W. Baird lifted their target price on shares of Celanese from $135.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Citigroup lifted their target price on shares of Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. UBS Group lifted their target price on shares of Celanese from $169.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $160.00 target price (up previously from $135.00) on shares of Celanese in a research report on Thursday, April 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Celanese presently has a consensus rating of “Hold” and an average target price of $149.22.

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.