Amalgamated Bank Sells 864 Shares of Celanese Co. (NYSE:CE)

Amalgamated Bank decreased its position in shares of Celanese Co. (NYSE:CEGet Rating) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,873 shares of the basic materials company’s stock after selling 864 shares during the period. Amalgamated Bank’s holdings in Celanese were worth $3,982,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Celanese by 2.7% during the 1st quarter. BlackRock Inc. now owns 7,849,893 shares of the basic materials company’s stock worth $1,121,512,000 after buying an additional 207,520 shares during the period. Brown Brothers Harriman & Co. increased its position in Celanese by 2.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,409,786 shares of the basic materials company’s stock worth $344,286,000 after buying an additional 49,289 shares during the period. Geode Capital Management LLC increased its position in Celanese by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,052,472 shares of the basic materials company’s stock worth $344,931,000 after buying an additional 24,520 shares during the period. Norges Bank bought a new position in Celanese during the 4th quarter worth $223,876,000. Finally, Invesco Ltd. increased its position in Celanese by 30.2% during the 1st quarter. Invesco Ltd. now owns 1,097,231 shares of the basic materials company’s stock worth $156,761,000 after buying an additional 254,456 shares during the period. Institutional investors own 93.34% of the company’s stock.

Celanese Stock Performance

Shares of CE stock opened at $97.30 on Thursday. The business’s 50-day moving average price is $112.06 and its 200-day moving average price is $130.35. Celanese Co. has a 12 month low of $97.27 and a 12 month high of $176.50. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 5.42 and a beta of 1.22. The company has a current ratio of 1.72, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58.

Celanese (NYSE:CEGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The basic materials company reported $4.99 EPS for the quarter, beating analysts’ consensus estimates of $4.56 by $0.43. Celanese had a return on equity of 46.75% and a net margin of 20.55%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $5.02 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts forecast that Celanese Co. will post 18.18 EPS for the current year.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, July 25th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, July 22nd. Celanese’s payout ratio is 15.16%.

Wall Street Analyst Weigh In

CE has been the topic of several recent research reports. UBS Group lowered their price objective on Celanese from $166.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Bank of America decreased their price target on Celanese from $171.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. Barclays decreased their price target on Celanese from $190.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Celanese from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Finally, Credit Suisse Group started coverage on Celanese in a research report on Monday, June 27th. They issued an “underperform” rating and a $105.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $158.80.

Celanese Profile

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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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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