DoubleLine ETF Adviser LP Makes New $871,000 Investment in Celanese Co. (NYSE:CE)

DoubleLine ETF Adviser LP purchased a new position in Celanese Co. (NYSE:CE) in the fourth quarter, Holdings Channel reports. The fund purchased 12,590 shares of the basic materials company’s stock, valued at approximately $871,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Celanese in the fourth quarter worth about $25,000. UMB Bank n.a. increased its stake in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares during the period. CKW Financial Group increased its stake in shares of Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 185 shares during the period. CENTRAL TRUST Co increased its stake in shares of 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 during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Celanese by 200.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

CE has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on Celanese from $85.00 to $75.00 and set an “in-line” rating on the stock in a research note on Monday, March 24th. Mizuho set a $45.00 price objective on Celanese in a research note on Tuesday, April 15th. Royal Bank of Canada lowered Celanese from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $84.00 to $56.00 in a research note on Thursday, February 20th. UBS Group dropped their price objective on Celanese from $60.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Alembic Global Advisors upgraded Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. Three 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. Based on data from MarketBeat, Celanese presently has an average rating of “Hold” and an average price target of $61.33.

Celanese Trading Up 2.1 %

CE stock opened at $45.45 on Friday. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $169.50. The firm has a market cap of $4.97 billion, a P/E ratio of -3.26, a P/E/G ratio of 1.05 and a beta of 1.08. The business’s 50 day moving average is $48.80 and its 200-day moving average is $69.18. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.

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

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, April 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.26%. Celanese’s dividend payout ratio is currently -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.