Bank of Nova Scotia Grows Position in Celanese Co. (NYSE:CE)

Bank of Nova Scotia raised its holdings in shares of Celanese Co. (NYSE:CEFree Report) by 49.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,649 shares of the basic materials company’s stock after buying an additional 3,177 shares during the quarter. Bank of Nova Scotia’s holdings in Celanese were worth $1,499,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Claret Asset Management Corp acquired a new position in shares of Celanese during the 4th quarter valued at about $201,000. Treasurer of the State of North Carolina boosted its position in shares of Celanese by 14.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 49,647 shares of the basic materials company’s stock valued at $7,714,000 after acquiring an additional 6,237 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Celanese by 350.6% during the 4th quarter. TD Asset Management Inc now owns 148,030 shares of the basic materials company’s stock valued at $22,999,000 after acquiring an additional 115,176 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in shares of Celanese by 38.4% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 12,605 shares of the basic materials company’s stock valued at $1,958,000 after acquiring an additional 3,497 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in shares of Celanese during the 4th quarter valued at about $1,485,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho upped their target price on shares of Celanese from $161.00 to $173.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Barclays cut shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 target price on the stock. in a research report on Thursday, April 4th. Wells Fargo & Company upped their target price on shares of Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Piper Sandler upped their target price on shares of Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Finally, Royal Bank of Canada upped their target price on shares of Celanese from $171.00 to $176.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Celanese presently has an average rating of “Hold” and an average target price of $156.78.

Read Our Latest Analysis on CE

Insider Buying and Selling at Celanese

In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total value of $313,700.00. Following the transaction, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Scott A. Richardson sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at $11,987,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Thomas Francis Kelly acquired 1,400 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $156.69 per share, with a total value of $219,366.00. Following the completion of the acquisition, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Celanese Stock Up 0.2 %

CE stock opened at $147.24 on Friday. The company’s 50 day moving average price is $157.06 and its 200 day moving average price is $152.25. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. Celanese Co. has a fifty-two week low of $105.15 and a fifty-two week high of $172.16. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 0.58 and a beta of 1.34.

Celanese (NYSE:CEGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.91 by $0.17. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, equities research analysts anticipate that Celanese Co. will post 11.47 EPS for the current fiscal year.

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, April 29th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $2.80 annualized dividend and a yield of 1.90%. Celanese’s dividend payout ratio is currently 15.41%.

Celanese Company Profile

(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.

Read More

Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Co. (NYSE:CEFree Report).

Institutional Ownership by Quarter for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.