Cwm LLC Boosts Position in Celanese Co. (NYSE:CE)

Cwm LLC boosted its holdings in Celanese Co. (NYSE:CEGet Rating) by 36.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,551 shares of the basic materials company’s stock after purchasing an additional 676 shares during the quarter. Cwm LLC’s holdings in Celanese were worth $231,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CE. BNP Paribas Arbitrage SA boosted its holdings in Celanese by 88.1% in the second quarter. BNP Paribas Arbitrage SA now owns 164,443 shares of the basic materials company’s stock worth $19,340,000 after purchasing an additional 77,034 shares during the period. ING Groep NV acquired a new position in Celanese in the second quarter worth $386,000. Pictet Asset Management SA boosted its holdings in Celanese by 29.6% in the second quarter. Pictet Asset Management SA now owns 72,626 shares of the basic materials company’s stock worth $8,542,000 after purchasing an additional 16,603 shares during the period. Kentucky Retirement Systems boosted its holdings in shares of Celanese by 16.7% during the second quarter. Kentucky Retirement Systems now owns 8,039 shares of the basic materials company’s stock valued at $945,000 after acquiring an additional 1,153 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Celanese during the second quarter valued at $1,063,000. Hedge funds and other institutional investors own 92.54% of the company’s stock.

Celanese Price Performance

Shares of Celanese stock opened at $121.29 on Friday. The company has a current ratio of 4.73, a quick ratio of 4.11 and a debt-to-equity ratio of 2.15. The company’s 50-day moving average price is $105.03 and its two-hundred day moving average price is $105.48. Celanese Co. has a 52 week low of $86.71 and a 52 week high of $173.95. The stock has a market cap of $13.15 billion, a PE ratio of 8.02 and a beta of 1.26.

Celanese (NYSE:CEGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The basic materials company reported $3.94 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.04). Celanese had a return on equity of 42.26% and a net margin of 17.20%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $4.82 earnings per share. Celanese’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celanese Co. will post 16.08 EPS for the current fiscal year.

Celanese Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 28th. This is a boost from Celanese’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.31%. Celanese’s payout ratio is 18.51%.

Analyst Upgrades and Downgrades

CE has been the subject of several analyst reports. Citigroup boosted their price target on shares of Celanese from $96.00 to $111.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. StockNews.com initiated coverage on shares of Celanese in a report on Wednesday, October 12th. They set a “hold” rating for the company. Robert W. Baird reduced their price target on shares of Celanese from $180.00 to $120.00 in a report on Monday, November 7th. Bank of America reduced their price target on shares of Celanese from $145.00 to $117.00 in a report on Tuesday, October 11th. Finally, Barclays boosted their price target on shares of Celanese from $133.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, December 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $116.00.

About Celanese

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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.

See Also

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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