Kazazian Asset Management LLC bought a new position in Celanese Corporation (NYSE:CE – Free Report) in the 4th quarter, Holdings Channel reports. The firm bought 21,000 shares of the basic materials company’s stock, valued at approximately $888,000. Celanese comprises about 0.9% of Kazazian Asset Management LLC’s portfolio, making the stock its 23rd largest holding.
Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Celanese by 8.9% in the 4th quarter. Blue Trust Inc. now owns 3,244 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Celanese by 111.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock valued at $28,000 after buying an additional 270 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Celanese by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,015 shares of the basic materials company’s stock valued at $1,058,000 after buying an additional 300 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Celanese by 100.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 662 shares of the basic materials company’s stock valued at $38,000 after buying an additional 331 shares in the last quarter. Finally, Smithfield Trust Co lifted its holdings in Celanese by 26.0% during the 3rd quarter. Smithfield Trust Co now owns 1,668 shares of the basic materials company’s stock valued at $69,000 after buying an additional 344 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.
Celanese Trading Up 0.0%
NYSE CE opened at $52.40 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.85 and a current ratio of 1.38. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -5.23, a price-to-earnings-growth ratio of 0.33 and a beta of 0.81. The company’s 50-day simple moving average is $61.58 and its two-hundred day simple moving average is $51.19. Celanese Corporation has a one year low of $35.13 and a one year high of $70.70.
Celanese Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, April 27th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Celanese’s dividend payout ratio (DPR) is -1.20%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Celanese from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, March 27th. Zacks Research upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Jefferies Financial Group upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Thursday, February 5th. Royal Bank Of Canada lifted their price objective on shares of Celanese from $66.00 to $68.00 and gave the company a “sector perform” rating in a report on Monday, May 11th. Finally, UBS Group lifted their price objective on shares of Celanese from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.81.
Get Our Latest Stock Report on Celanese
Celanese Profile
Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.
In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.
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