Moore Capital Management LP raised its stake in Celanese Co. (NYSE:CE - Free Report) by 186.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,806 shares of the basic materials company's stock after buying an additional 124,868 shares during the period. Moore Capital Management LP owned approximately 0.18% of Celanese worth $13,275,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in CE. Altshuler Shaham Ltd bought a new stake in Celanese in the fourth quarter worth $25,000. UMB Bank n.a. lifted 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 valued at $26,000 after buying an additional 194 shares during the period. CKW Financial Group lifted its stake in Celanese by 52.9% during 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. LRI Investments LLC lifted its stake in Celanese by 739.1% during the fourth quarter. LRI Investments LLC now owns 537 shares of the basic materials company's stock worth $37,000 after purchasing an additional 473 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in Celanese by 43.2% during 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. 98.87% of the stock is owned by institutional investors and hedge funds.
Celanese Trading Up 2.6%
NYSE CE traded up $1.35 on Friday, hitting $53.56. The company's stock had a trading volume of 1,513,305 shares, compared to its average volume of 2,171,097. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $158.08. The company's 50-day moving average is $48.41 and its 200 day moving average is $63.04. The firm has a market cap of $5.86 billion, a PE ratio of -3.84, a PEG ratio of 1.05 and a beta of 1.09.
Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the prior year, the company posted $2.08 EPS. The company's revenue was down 8.5% on a year-over-year basis. As a group, analysts predict that Celanese Co. will post 8.79 earnings per share for the current fiscal year.
Celanese Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Monday, April 28th. Celanese's dividend payout ratio (DPR) is presently -0.79%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on CE shares. Piper Sandler reissued an "underweight" rating and issued a $48.00 price target (down previously from $50.00) on shares of Celanese in a report on Monday, April 7th. UBS Group reduced their price target on shares of Celanese from $60.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. BMO Capital Markets cut their price objective on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating on the stock in a research report on Thursday, February 20th. Robert W. Baird cut their price objective on shares of Celanese from $110.00 to $67.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $61.44.
Check Out Our Latest Report on Celanese
About Celanese
(
Free Report)
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.
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