Louisiana State Employees Retirement System bought a new position in shares of Celanese Corporation (NYSE:CE – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,600 shares of the basic materials company’s stock, valued at approximately $3,196,000.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Celanese by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 11,840,341 shares of the basic materials company’s stock worth $500,610,000 after acquiring an additional 90,428 shares during the period. Capital Research Global Investors lifted its holdings in Celanese by 24.0% in the fourth quarter. Capital Research Global Investors now owns 5,565,556 shares of the basic materials company’s stock valued at $235,312,000 after acquiring an additional 1,076,645 shares during the period. Turtle Creek Asset Management Inc. boosted its position in shares of Celanese by 21.0% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 5,115,365 shares of the basic materials company’s stock worth $215,255,000 after purchasing an additional 887,600 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Celanese by 15.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,094,781 shares of the basic materials company’s stock worth $173,127,000 after purchasing an additional 558,391 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Celanese by 2.1% during the 4th quarter. State Street Corp now owns 3,949,230 shares of the basic materials company’s stock worth $166,973,000 after purchasing an additional 80,242 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.
Celanese Price Performance
Shares of NYSE:CE opened at $49.15 on Friday. Celanese Corporation has a one year low of $35.13 and a one year high of $70.70. The stock has a market cap of $5.39 billion, a PE ratio of -4.91, a price-to-earnings-growth ratio of 0.30 and a beta of 0.73. The business’s fifty day moving average price is $56.42 and its two-hundred day moving average price is $53.29. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.85 and a current ratio of 1.38.
Celanese Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, April 27th were given a dividend of $0.03 per share. The ex-dividend date 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%.
Wall Street Analysts Forecast Growth
CE has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada upped their target price on shares of Celanese from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Morgan Stanley increased their target price on shares of Celanese from $50.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Vertical Research raised Celanese from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, March 9th. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.06.
View Our Latest Analysis on Celanese
Celanese Company 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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