Peapack Gladstone Financial Corp Takes Position in Celanese Co. (NYSE:CE)

Peapack Gladstone Financial Corp bought a new stake in Celanese Co. (NYSE:CEFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,471 shares of the basic materials company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. bought a new position in Celanese during the 4th quarter valued at $28,000. Asset Dedication LLC boosted its stake in Celanese by 180.0% during the 3rd quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 144 shares during the last quarter. Desjardins Global Asset Management Inc. boosted its stake in Celanese by 142.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Celanese by 100.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 94 shares during the last quarter. Finally, Provence Wealth Management Group bought a new position in Celanese during the 3rd quarter valued at $32,000. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Celanese news, SVP Thomas Francis Kelly acquired 1,400 shares of Celanese stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $156.69 per share, for a total transaction of $219,366.00. Following the transaction, the senior vice president now owns 57,023 shares in the company, valued at approximately $8,934,933.87. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Celanese 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 value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Thomas Francis Kelly bought 1,400 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $156.69 per share, with a total value of $219,366.00. Following the completion of the acquisition, the senior vice president now owns 57,023 shares of the company’s stock, valued at $8,934,933.87. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CE. Mizuho increased their target price on shares of Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Wells Fargo & Company increased their target price on shares of Celanese from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Barclays cut shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 target price on the stock. in a report on Thursday, April 4th. Citigroup increased their target price on shares of Celanese from $150.00 to $167.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, StockNews.com raised shares of 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $156.78.

Check Out Our Latest Analysis on Celanese

Celanese Stock Down 0.5 %

Celanese stock opened at $146.47 on Friday. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 0.58 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. The company’s 50-day moving average price is $156.55 and its two-hundred day moving average price is $152.36. Celanese Co. has a 52 week low of $105.15 and a 52 week high of $172.16.

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

Celanese Dividend Announcement

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

About Celanese

(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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