California State Teachers Retirement System Sells 4,558 Shares of Celanese Co. (NYSE:CE)

California State Teachers Retirement System trimmed its position in Celanese Co. (NYSE:CEFree Report) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 144,275 shares of the basic materials company’s stock after selling 4,558 shares during the period. California State Teachers Retirement System owned 0.13% of Celanese worth $22,416,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. FMR LLC increased its position in Celanese by 9.9% in the 3rd quarter. FMR LLC now owns 6,340,305 shares of the basic materials company’s stock valued at $795,835,000 after acquiring an additional 570,501 shares during the period. Vanguard Group Inc. increased its holdings in Celanese by 2.6% in the third quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock valued at $1,596,947,000 after purchasing an additional 323,862 shares during the period. Norges Bank bought a new position in shares of Celanese during the fourth quarter worth about $44,560,000. Invesco Ltd. lifted its stake in shares of Celanese by 8.2% in the 3rd quarter. Invesco Ltd. now owns 3,022,169 shares of the basic materials company’s stock valued at $379,343,000 after purchasing an additional 230,275 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Celanese by 1,593.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 160,370 shares of the basic materials company’s stock worth $20,130,000 after buying an additional 150,901 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Insider Activity

In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total transaction of $313,700.00. Following the completion of the transaction, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Scott A. Richardson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $156.85, for a total transaction of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark Christopher Murray purchased 597 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $156.43 per share, for a total transaction of $93,388.71. Following the purchase, the senior vice president now owns 11,600 shares in the company, valued at $1,814,588. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Celanese Trading Up 1.2 %

Shares of NYSE CE opened at $146.96 on Thursday. The firm has a market cap of $16.05 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.34. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. Celanese Co. has a twelve month low of $105.15 and a twelve month high of $172.16. The business has a fifty day simple moving average of $157.55 and a two-hundred day simple moving average of $152.29.

Celanese (NYSE:CEGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.17. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $2.01 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, April 29th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, April 26th. Celanese’s dividend payout ratio (DPR) is 15.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CE shares. BMO Capital Markets boosted their price objective on Celanese from $153.00 to $158.00 and gave the company a “market perform” rating in a report on Tuesday, May 14th. Citigroup lifted their price target on Celanese from $150.00 to $167.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Royal Bank of Canada raised their price target on shares of Celanese from $171.00 to $176.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. KeyCorp upped their price target on shares of Celanese from $176.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, StockNews.com raised Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Celanese presently has a consensus rating of “Hold” and a consensus price target of $156.78.

View Our Latest Report on Celanese

Celanese Company Profile

(Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It 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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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