New Mexico Educational Retirement Board decreased its holdings in Celanese Co. (NYSE:CE – Get Rating) by 7.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,300 shares of the basic materials company’s stock after selling 500 shares during the period. New Mexico Educational Retirement Board’s holdings in Celanese were worth $900,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of CE. Norges Bank bought a new stake in Celanese during the 4th quarter worth $223,876,000. Allspring Global Investments Holdings LLC acquired a new position in Celanese during the 4th quarter worth about $200,281,000. Millennium Management LLC lifted its holdings in Celanese by 121.7% during the 4th quarter. Millennium Management LLC now owns 1,048,645 shares of the basic materials company’s stock worth $176,235,000 after buying an additional 575,684 shares during the period. Artemis Investment Management LLP lifted its holdings in Celanese by 2,218.6% during the 4th quarter. Artemis Investment Management LLP now owns 549,458 shares of the basic materials company’s stock worth $92,277,000 after buying an additional 525,760 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Celanese during the 4th quarter worth about $45,597,000. Institutional investors and hedge funds own 93.81% of the company’s stock.
CE has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on Celanese from $165.00 to $174.00 and gave the company a “neutral” rating in a research note on Monday, April 18th. Piper Sandler boosted their price objective on Celanese from $140.00 to $145.00 and gave the company an “underweight” rating in a research note on Wednesday, May 18th. StockNews.com raised Celanese from a “hold” rating to a “buy” rating in a research note on Thursday, March 24th. Finally, Jefferies Financial Group downgraded Celanese from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Celanese has an average rating of “Moderate Buy” and an average price target of $189.20.
Celanese (NYSE:CE – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The basic materials company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $1.05. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.26 billion. Celanese had a return on equity of 50.03% and a net margin of 22.31%. The company’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.46 EPS. On average, equities analysts forecast that Celanese Co. will post 18.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, April 28th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Wednesday, April 27th. Celanese’s dividend payout ratio is presently 14.52%.
About Celanese (Get Rating)
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, 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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