KBC Group NV Sells 5,659 Shares of Celanese Co. (NYSE:CE)

KBC Group NV decreased its position in shares of Celanese Co. (NYSE:CEFree Report) by 53.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,926 shares of the basic materials company’s stock after selling 5,659 shares during the quarter. KBC Group NV’s holdings in Celanese were worth $766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Celanese by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,564 shares of the basic materials company’s stock valued at $111,030,000 after acquiring an additional 13,149 shares during the period. Van ECK Associates Corp raised its position in Celanese by 97.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,230 shares of the basic materials company’s stock worth $1,284,000 after purchasing an additional 5,053 shares during the last quarter. Pathstone Family Office LLC lifted its holdings in Celanese by 10.7% during the 3rd quarter. Pathstone Family Office LLC now owns 8,840 shares of the basic materials company’s stock worth $1,110,000 after buying an additional 855 shares during the period. Huntington National Bank grew its position in shares of Celanese by 26.3% in the 3rd quarter. Huntington National Bank now owns 1,866 shares of the basic materials company’s stock valued at $234,000 after buying an additional 389 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Celanese by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,124 shares of the basic materials company’s stock valued at $2,526,000 after buying an additional 2,669 shares during the period. Institutional investors own 98.87% of the company’s stock.

Insider Buying and Selling at Celanese

In other 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 value of $313,700.00. Following the completion of the sale, the chief operating officer now owns 76,429 shares in the company, valued at approximately $11,987,888.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Celanese news, COO Scott A. Richardson sold 2,000 shares of Celanese stock in a transaction that occurred 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 transaction, the chief operating officer now owns 76,429 shares of the company’s stock, valued at approximately $11,987,888.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Thomas Francis Kelly bought 1,400 shares of Celanese stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost 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. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CE. Royal Bank of Canada upped their target price on Celanese from $171.00 to $176.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Citigroup lifted their target price on shares of Celanese from $150.00 to $167.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Tudor, Pickering, Holt & Co. cut shares of Celanese from a “buy” rating to a “sell” rating and set a $140.00 price target on the stock. in a research report on Thursday, February 22nd. Barclays lowered Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price objective for the company. in a research report on Thursday, April 4th. Finally, StockNews.com raised Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $156.78.

View Our Latest Research Report on CE

Celanese Trading Down 0.5 %

NYSE:CE opened at $146.47 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73. Celanese Co. has a one year low of $105.15 and a one year high of $172.16. The company has a market cap of $16.00 billion, a PE ratio of 8.06, a PEG ratio of 0.59 and a beta of 1.34. The firm has a 50-day moving average of $156.55 and a 200-day moving average of $152.52.

Celanese (NYSE:CEGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the company posted $2.01 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that Celanese Co. will post 11.47 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, April 29th were paid 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 presently 15.41%.

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.

See Also

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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