Celanese (NYSE:CE – Get Rating) had its target price reduced by Deutsche Bank Aktiengesellschaft from $175.00 to $140.00 in a report released on Tuesday morning, The Fly reports. They currently have a maintains rating on the basic materials company’s stock.
Several other research analysts have also recently commented on the stock. StockNews.com cut shares of Celanese from a buy rating to a hold rating in a report on Friday, July 29th. UBS Group lowered their target price on shares of Celanese from $166.00 to $163.00 and set a buy rating for the company in a report on Friday, July 29th. Jefferies Financial Group cut shares of Celanese from a buy rating to a hold rating in a report on Thursday, June 16th. Barclays reduced their price target on shares of Celanese from $190.00 to $165.00 and set a maintains rating for the company in a research report on Tuesday. Finally, Bank of America reduced their price target on shares of Celanese from $171.00 to $144.00 and set a neutral rating for the company in a research report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $161.80.
Celanese Trading Down 2.1 %
NYSE CE opened at $111.45 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.72 and a debt-to-equity ratio of 0.58. Celanese has a 52 week low of $104.74 and a 52 week high of $176.50. The stock has a market capitalization of $12.07 billion, a PE ratio of 6.21 and a beta of 1.22. The firm has a 50 day moving average of $127.98 and a two-hundred day moving average of $140.89.
Celanese Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, July 25th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. Celanese’s dividend payout ratio is presently 15.16%.
Hedge Funds Weigh In On Celanese
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Celanese by 2.7% in the 1st quarter. BlackRock Inc. now owns 7,849,893 shares of the basic materials company’s stock valued at $1,121,512,000 after acquiring an additional 207,520 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Celanese by 2.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,409,786 shares of the basic materials company’s stock valued at $344,286,000 after acquiring an additional 49,289 shares during the last quarter. Geode Capital Management LLC grew its stake in Celanese by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,052,472 shares of the basic materials company’s stock valued at $344,931,000 after acquiring an additional 24,520 shares during the last quarter. Norges Bank acquired a new stake in Celanese in the 4th quarter valued at about $223,876,000. Finally, Bank of America Corp DE grew its stake in Celanese by 5.6% in the 4th quarter. Bank of America Corp DE now owns 1,154,460 shares of the basic materials company’s stock valued at $194,020,000 after acquiring an additional 61,545 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, 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.
- Get a free copy of the StockNews.com research report on Celanese (CE)
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