Twin Capital Management Inc. acquired a new stake in shares of Celanese Corporation (NYSE:CE – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,290 shares of the basic materials company’s stock, valued at approximately $773,000.
Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Celanese by 12.8% during the third quarter. JPMorgan Chase & Co. now owns 259,196 shares of the basic materials company’s stock valued at $10,907,000 after buying an additional 29,392 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Celanese in the third quarter valued at about $3,171,000. AMG National Trust Bank increased its stake in Celanese by 270.1% in the third quarter. AMG National Trust Bank now owns 70,322 shares of the basic materials company’s stock valued at $2,959,000 after acquiring an additional 51,322 shares during the period. Russell Investments Group Ltd. increased its stake in Celanese by 21.5% in the third quarter. Russell Investments Group Ltd. now owns 1,214,487 shares of the basic materials company’s stock valued at $51,104,000 after acquiring an additional 214,632 shares during the period. Finally, Fox Run Management L.L.C. increased its stake in Celanese by 406.9% in the third quarter. Fox Run Management L.L.C. now owns 42,175 shares of the basic materials company’s stock valued at $1,775,000 after acquiring an additional 33,854 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.
Celanese Price Performance
Shares of Celanese stock opened at $52.83 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of -5.28, a P/E/G ratio of 0.33 and a beta of 0.81. Celanese Corporation has a 1-year low of $35.13 and a 1-year high of $70.70. The firm’s 50-day moving average price is $61.57 and its two-hundred day moving average price is $51.08.
Celanese Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, April 27th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, April 27th. Celanese’s dividend payout ratio is -1.20%.
Analyst Ratings Changes
CE has been the topic of a number of analyst reports. Mizuho upped their target price on shares of Celanese from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. UBS Group upped their target price on shares of Celanese from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wells Fargo & Company upped their target price on shares of Celanese from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada upped their target price on shares of Celanese from $66.00 to $68.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Finally, Morgan Stanley upped their target price on shares of Celanese from $50.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Ten equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.81.
Read Our Latest Analysis on Celanese
Celanese 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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