Goldman Sachs Group Inc. Sells 13,933 Shares of Celanese Co. (NYSE:CE)

Goldman Sachs Group Inc. trimmed its stake in shares of Celanese Co. (NYSE:CEFree Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 759,851 shares of the basic materials company’s stock after selling 13,933 shares during the quarter. Goldman Sachs Group Inc. owned about 0.70% of Celanese worth $118,058,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Celanese by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock valued at $1,596,947,000 after acquiring an additional 323,862 shares during the period. FMR LLC lifted its position in shares of Celanese by 9.9% during 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. Invesco Ltd. lifted its position in shares of Celanese by 8.2% during the 3rd quarter. Invesco Ltd. now owns 3,022,169 shares of the basic materials company’s stock valued at $379,343,000 after acquiring an additional 230,275 shares during the period. Lyrical Asset Management LP lifted its position in shares of Celanese by 3.8% during the 4th quarter. Lyrical Asset Management LP now owns 1,063,488 shares of the basic materials company’s stock valued at $165,234,000 after acquiring an additional 38,924 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Celanese by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,009,106 shares of the basic materials company’s stock valued at $156,805,000 after acquiring an additional 56,085 shares during the period. 98.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup upped their price objective on Celanese from $150.00 to $167.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Robert W. Baird upped their price objective on Celanese from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. StockNews.com upgraded Celanese from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Mizuho upped their price objective on Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Finally, KeyCorp upped their price objective on Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Celanese presently has an average rating of “Hold” and an average target price of $158.82.

View Our Latest Report on CE

Insider Buying and Selling

In other Celanese news, 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 acquired at an average price of $156.69 per share, with a total value of $219,366.00. Following the completion of the purchase, the senior vice president now directly owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Scott A. Richardson sold 2,000 shares of the business’s 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 in the company, valued at $11,987,888.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Thomas Francis Kelly acquired 1,400 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $156.69 per share, with a total value of $219,366.00. Following 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. 0.33% of the stock is currently owned by insiders.

Celanese Trading Down 0.5 %

Shares of CE stock opened at $146.47 on Monday. 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 stock has a 50-day moving average of $156.55 and a 200-day moving average of $152.66. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. Celanese Co. has a 1-year low of $105.15 and a 1-year high of $172.16.

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

Celanese Announces Dividend

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