Cibc World Markets Corp Acquires 7,452 Shares of Celanese Co. (NYSE:CE)

Cibc World Markets Corp increased its holdings in Celanese Co. (NYSE:CEFree Report) by 134.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,976 shares of the basic materials company’s stock after buying an additional 7,452 shares during the period. Cibc World Markets Corp’s holdings in Celanese were worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CE. Johnson Financial Group Inc. acquired a new position in shares of Celanese during the fourth quarter worth $28,000. Asset Dedication LLC increased its position in shares of Celanese by 180.0% during the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 144 shares in the last quarter. Desjardins Global Asset Management Inc. increased its position in shares of Celanese by 142.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 108 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Celanese by 100.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 94 shares in the last quarter. Finally, Provence Wealth Management Group acquired a new position in shares of Celanese during the third quarter worth $32,000. Institutional investors own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price target on Celanese from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $160.00 target price (up from $135.00) on shares of Celanese in a research report on Thursday, April 4th. BMO Capital Markets upped their target price on Celanese from $153.00 to $158.00 and gave the company a “market perform” rating in a research report on Tuesday, May 14th. Citigroup upped their target price on Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their target price on Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $158.82.

View Our Latest Stock Analysis on CE

Celanese Trading Down 0.5 %

CE stock opened at $146.47 on Monday. The company’s 50-day simple moving average is $156.55 and its 200-day simple moving average is $152.66. 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 52-week low of $105.15 and a 52-week high of $172.16. The firm has a market cap of $16.00 billion, a P/E ratio of 8.06, a PEG ratio of 0.58 and a beta of 1.34.

Celanese (NYSE:CEGet Free Report) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior 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 analysts forecast that Celanese Co. will post 11.47 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors 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 presently 15.41%.

Insider Buying and Selling

In related news, COO Scott A. Richardson sold 2,000 shares of the company’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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Scott A. Richardson sold 2,000 shares of the company’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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Thomas Francis Kelly purchased 1,400 shares of Celanese stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $156.69 per share, with a total value of $219,366.00. Following the transaction, the senior vice president now owns 57,023 shares in the company, valued at $8,934,933.87. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

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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