Bank of America Corp DE Sells 94,776 Shares of Celanese Co. (NYSE:CE)

Bank of America Corp DE decreased its position in shares of Celanese Co. (NYSE:CEGet Rating) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,059,684 shares of the basic materials company’s stock after selling 94,776 shares during the period. Bank of America Corp DE’s holdings in Celanese were worth $151,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Celanese by 2.7% during the 1st quarter. BlackRock Inc. now owns 7,849,893 shares of the basic materials company’s stock valued at $1,121,512,000 after buying an additional 207,520 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Celanese by 2.1% in the first quarter. Brown Brothers Harriman & Co. now owns 2,409,786 shares of the basic materials company’s stock valued at $344,286,000 after purchasing an additional 49,289 shares in the last quarter. Norges Bank purchased a new position in shares of Celanese in the fourth quarter valued at $223,876,000. Invesco Ltd. grew its holdings in shares of Celanese by 30.2% in the first quarter. Invesco Ltd. now owns 1,097,231 shares of the basic materials company’s stock valued at $156,761,000 after purchasing an additional 254,456 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Celanese by 121.7% in the fourth quarter. Millennium Management LLC now owns 1,048,645 shares of the basic materials company’s stock valued at $176,235,000 after purchasing an additional 575,684 shares in the last quarter. Institutional investors own 93.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CE. StockNews.com raised shares of Celanese from a “hold” rating to a “buy” rating in a report on Tuesday. Credit Suisse Group initiated coverage on shares of Celanese in a research note on Monday, June 27th. They set an “underperform” rating and a $105.00 price objective for the company. UBS Group dropped their price objective on shares of Celanese from $166.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Celanese from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Finally, Barclays decreased their target price on Celanese from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $158.80.

Celanese Price Performance

CE opened at $93.93 on Friday. The business’s 50-day moving average is $111.80 and its two-hundred day moving average is $130.07. Celanese Co. has a 1 year low of $93.90 and a 1 year high of $176.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.06. The firm has a market capitalization of $10.18 billion, a PE ratio of 5.24 and a beta of 1.22.

Celanese (NYSE:CEGet Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $4.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $0.43. Celanese had a return on equity of 46.75% and a net margin of 20.55%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm earned $5.02 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that Celanese Co. will post 18.18 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, July 25th were paid a dividend of $0.68 per share. The ex-dividend date was Friday, July 22nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.90%. Celanese’s payout ratio is 15.16%.

Celanese Profile

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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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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