Royal London Asset Management Ltd. Sells 32,519 Shares of Celanese Co. (NYSE:CE)

Royal London Asset Management Ltd. cut its holdings in shares of Celanese Co. (NYSE:CEFree Report) by 45.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,030 shares of the basic materials company’s stock after selling 32,519 shares during the period. Royal London Asset Management Ltd.’s holdings in Celanese were worth $6,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its stake in Celanese by 25.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 327 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 67 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Celanese by 7.6% during the fourth quarter. Benjamin Edwards Inc. now owns 979 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 69 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Celanese by 51.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 275 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 93 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Celanese by 100.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock valued at $29,000 after buying an additional 94 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Celanese by 2.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,379 shares of the basic materials company’s stock worth $525,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CE. BMO Capital Markets increased their price target on Celanese from $153.00 to $158.00 and gave the company a “market perform” rating in a research report on Tuesday, May 14th. Mizuho lifted their target price on Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Piper Sandler increased their price target on shares of Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Robert W. Baird lifted their price objective on shares of Celanese from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Finally, StockNews.com raised shares of Celanese from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Celanese currently has an average rating of “Hold” and an average target price of $156.78.

Get Our Latest Analysis on Celanese

Celanese Stock Down 0.5 %

Shares of NYSE CE opened at $146.47 on Friday. The business has a 50-day simple moving average of $156.55 and a two-hundred day simple moving average of $152.52. Celanese Co. has a 52 week low of $105.15 and a 52 week high of $172.16. The company has a market cap of $16.00 billion, a P/E ratio of 8.06, a P/E/G 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 (NYSE:CEGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.17. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. Celanese’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.01 earnings per share. Research analysts anticipate that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, April 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, April 26th. Celanese’s payout ratio is 15.41%.

Insider Activity at Celanese

In other news, COO Scott A. Richardson sold 2,000 shares of Celanese stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the transaction, the chief operating officer now 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 can be accessed through this link. In other news, COO Scott A. Richardson sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was 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 owns 76,429 shares of the company’s stock, valued at $11,987,888.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas Francis Kelly bought 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the purchase, 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. 0.33% of the stock is owned by insiders.

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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