Nissay Asset Management Corp Japan ADV Buys 242 Shares of Celanese Co. (NYSE:CE)

Nissay Asset Management Corp Japan ADV grew its stake in Celanese Co. (NYSE:CE) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,442 shares of the basic materials company’s stock after acquiring an additional 242 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Celanese were worth $924,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in Celanese during the fourth quarter worth about $956,000. OMERS ADMINISTRATION Corp grew its holdings in Celanese by 21.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,373 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 769 shares during the period. Occudo Quantitative Strategies LP bought a new position in Celanese during the fourth quarter worth about $812,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Celanese by 19.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,907 shares of the basic materials company’s stock worth $1,585,000 after purchasing an additional 3,727 shares during the period. Finally, Moore Capital Management LP grew its holdings in Celanese by 186.5% during the fourth quarter. Moore Capital Management LP now owns 191,806 shares of the basic materials company’s stock worth $13,275,000 after purchasing an additional 124,868 shares during the period. Institutional investors own 98.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group reduced their price target on Celanese from $60.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Citigroup reduced their price objective on Celanese from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, April 4th. StockNews.com upgraded Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Celanese from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company boosted their price objective on Celanese from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Celanese currently has a consensus rating of “Hold” and a consensus price target of $61.44.

Celanese Stock Up 2.6%

NYSE CE opened at $53.56 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese Co. has a 1-year low of $36.29 and a 1-year high of $157.74. The company has a 50 day moving average of $48.41 and a 200-day moving average of $62.15. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -3.84, a PEG ratio of 1.05 and a beta of 1.09.

Celanese (NYSE:CE) last released its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.12 annualized dividend and a yield of 0.22%. Celanese’s dividend payout ratio is currently -0.79%.

About Celanese

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.