Oppenheimer Asset Management Inc. grew its position in shares of Celanese Co. (NYSE:CE – Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,704 shares of the basic materials company’s stock after buying an additional 382 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Celanese were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of Celanese by 588.2% in the 1st quarter. Versant Capital Management Inc now owns 234 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 200 shares during the period. WealthPLAN Partners LLC bought a new stake in shares of Celanese in the 1st quarter worth approximately $25,000. Parkside Financial Bank & Trust raised its holdings in shares of 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 period. Global Retirement Partners LLC raised its holdings in shares of Celanese by 158.4% in the 1st quarter. Global Retirement Partners LLC now owns 323 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 198 shares during the period. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Celanese in the 4th quarter worth approximately $37,000. Institutional investors own 94.17% of the company’s stock.
Wall Street Analysts Forecast Growth
CE has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Celanese in a report on Thursday, August 17th. They issued a “sell” rating on the stock. Robert W. Baird boosted their target price on shares of Celanese from $130.00 to $140.00 in a report on Wednesday, August 9th. Credit Suisse Group boosted their target price on shares of Celanese from $100.00 to $111.00 and gave the company an “underperform” rating in a report on Tuesday, August 8th. Mizuho lowered their target price on shares of Celanese from $113.00 to $112.00 in a report on Thursday, May 11th. Finally, Wells Fargo & Company boosted their target price on shares of Celanese from $124.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.67.
Celanese Stock Performance
NYSE CE opened at $118.21 on Friday. The company has a 50-day simple moving average of $119.27 and a two-hundred day simple moving average of $113.16. The company has a quick ratio of 0.95, a current ratio of 1.59 and a debt-to-equity ratio of 2.12. Celanese Co. has a 12-month low of $86.71 and a 12-month high of $128.50. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 4.19 and a beta of 1.32.
Celanese (NYSE:CE – Get Free Report) last posted its quarterly earnings results on Monday, August 7th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.29). Celanese had a net margin of 12.32% and a return on equity of 17.68%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company earned $4.99 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Celanese Co. will post 9.14 EPS for the current year.
Celanese Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were given a dividend of $0.70 per share. The ex-dividend date was Friday, July 28th. This represents a $2.80 annualized dividend and a yield of 2.37%. Celanese’s payout ratio is 24.10%.
Celanese Company Profile
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials 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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