Verition Fund Management LLC Has $611,000 Stake in Celanese Co. (NYSE:CE)

Verition Fund Management LLC increased its stake in Celanese Co. (NYSE:CEGet Rating) by 3.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,279 shares of the basic materials company’s stock after purchasing an additional 125 shares during the quarter. Verition Fund Management LLC’s holdings in Celanese were worth $611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in Celanese by 92.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Clearstead Advisors LLC increased its position in Celanese by 830.0% in the 1st quarter. Clearstead Advisors LLC now owns 186 shares of the basic materials company’s stock worth $27,000 after buying an additional 166 shares during the period. Herold Advisors Inc. bought a new position in Celanese in the 1st quarter worth approximately $35,000. Cambridge Trust Co. increased its position in Celanese by 137.5% in the 1st quarter. Cambridge Trust Co. now owns 247 shares of the basic materials company’s stock worth $35,000 after buying an additional 143 shares during the period. Finally, Quent Capital LLC bought a new position in Celanese in the 4th quarter worth approximately $56,000. 93.34% of the stock is currently owned by institutional investors and hedge funds.

Celanese Stock Performance

Shares of NYSE:CE opened at $93.93 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.06. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 5.24 and a beta of 1.22. The business’s fifty day moving average price is $111.80 and its two-hundred day moving average price is $130.07. Celanese Co. has a fifty-two week low of $93.90 and a fifty-two week high of $176.50.

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

Celanese Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, July 25th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, July 22nd. Celanese’s dividend payout ratio is currently 15.16%.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird dropped their price target on Celanese to $180.00 in a research report on Tuesday, August 9th. Bank of America dropped 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. StockNews.com raised Celanese from a “hold” rating to a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective 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, 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.80.

About Celanese

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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.

See Also

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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