CIBC Private Wealth Group LLC Raises Position in Celanese Co. (NYSE:CE)

CIBC Private Wealth Group LLC lifted its stake in shares of Celanese Co. (NYSE:CEFree Report) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,995 shares of the basic materials company’s stock after buying an additional 341 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Celanese were worth $776,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peapack Gladstone Financial Corp acquired a new position in Celanese in the 4th quarter worth $229,000. Rafferty Asset Management LLC raised its position in shares of Celanese by 1.5% in the 4th quarter. Rafferty Asset Management LLC now owns 11,076 shares of the basic materials company’s stock valued at $1,721,000 after purchasing an additional 159 shares in the last quarter. Blue Whale Capital LLP grew its position in shares of Celanese by 50.0% during the fourth quarter. Blue Whale Capital LLP now owns 66,000 shares of the basic materials company’s stock worth $10,254,000 after buying an additional 22,000 shares in the last quarter. Lyrical Asset Management LP increased its stake in shares of Celanese by 3.8% in the fourth quarter. Lyrical Asset Management LP now owns 1,063,488 shares of the basic materials company’s stock worth $165,234,000 after buying an additional 38,924 shares during the last quarter. Finally, United Community Bank raised its holdings in Celanese by 236.6% in the fourth quarter. United Community Bank now owns 2,003 shares of the basic materials company’s stock valued at $311,000 after acquiring an additional 1,408 shares in the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Celanese Stock Performance

Shares of CE opened at $144.94 on Tuesday. Celanese Co. has a one year low of $105.15 and a one year high of $172.16. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 0.58 and a beta of 1.34. The company has a 50-day moving average of $156.03 and a two-hundred day moving average of $152.76.

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

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, April 29th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.93%. Celanese’s dividend payout ratio is currently 15.41%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CE shares. Wells Fargo & Company boosted their target price on shares of Celanese from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $160.00 target price (up previously from $135.00) on shares of Celanese in a report on Thursday, April 4th. BMO Capital Markets raised their price target on shares of Celanese from $153.00 to $158.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 14th. Citigroup boosted their price objective on Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, Barclays cut shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 target price for the company. in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $161.41.

Get Our Latest Research Report on CE

Celanese 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.

Recommended Stories

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.