Rafferty Asset Management LLC Has $1.72 Million Holdings in Celanese Co. (NYSE:CE)

Rafferty Asset Management LLC increased its stake in Celanese Co. (NYSE:CEFree Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,076 shares of the basic materials company’s stock after buying an additional 159 shares during the quarter. Rafferty Asset Management LLC’s holdings in Celanese were worth $1,721,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Celanese by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock valued at $1,596,947,000 after buying an additional 323,862 shares during the last quarter. FMR LLC raised its position in shares of Celanese by 9.9% in the third quarter. FMR LLC now owns 6,340,305 shares of the basic materials company’s stock valued at $795,835,000 after purchasing an additional 570,501 shares during the period. Invesco Ltd. lifted its stake in shares of Celanese by 8.2% during the 3rd quarter. Invesco Ltd. now owns 3,022,169 shares of the basic materials company’s stock worth $379,343,000 after buying an additional 230,275 shares during the last quarter. Lyrical Asset Management LP boosted its holdings in shares of Celanese by 3.8% during the 4th 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 period. Finally, Dimensional Fund Advisors LP raised its holdings in Celanese by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,009,106 shares of the basic materials company’s stock valued at $156,805,000 after acquiring an additional 56,085 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Stock Performance

Celanese stock opened at $144.94 on Tuesday. The stock has a market cap of $15.83 billion, a PE ratio of 7.98, a P/E/G ratio of 0.58 and a beta of 1.34. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. Celanese Co. has a 12-month low of $105.15 and a 12-month high of $172.16. The business’s 50-day moving average price is $156.03 and its two-hundred day moving average price is $152.76.

Celanese (NYSE:CEGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the company earned $2.01 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, analysts expect that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Dividend Announcement

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

Insider Buying and Selling

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

Analysts Set New Price Targets

CE has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Celanese from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Mizuho lifted their target price on Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Tudor, Pickering, Holt & Co. cut shares of Celanese from a “buy” rating to a “sell” rating and set a $140.00 target price for the company. in a research report on Thursday, February 22nd. Wells Fargo & Company raised their price target 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. Finally, Bank of America cut their price objective on shares of Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a report on Monday. 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. According to MarketBeat, Celanese currently has an average rating of “Hold” and an average price target of $161.41.

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About Celanese

(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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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