Celanese Co. (NYSE:CE) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its stake in Celanese Co. (NYSE:CEFree Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,076 shares of the basic materials company’s stock after purchasing an additional 159 shares during the period. Rafferty Asset Management LLC’s holdings in Celanese were worth $1,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CE. Johnson Financial Group Inc. acquired a new position in Celanese during the fourth quarter worth about $28,000. Asset Dedication LLC raised its position in 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 acquiring an additional 144 shares during the last quarter. Desjardins Global Asset Management Inc. raised its position in 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 acquiring an additional 108 shares during the last quarter. JFS Wealth Advisors LLC raised its position in 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 acquiring an additional 94 shares during the last quarter. Finally, Provence Wealth Management Group acquired a new position in Celanese during the third quarter worth about $32,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

CE has been the subject of a number of recent research reports. KeyCorp lifted their price target on shares of Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wells Fargo & Company lifted their price target on shares of Celanese from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Tudor, Pickering, Holt & Co. downgraded shares of Celanese from a “buy” rating to a “sell” rating and set a $140.00 price target for the company. in a report on Thursday, February 22nd. Barclays downgraded shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price target for the company. in a report on Thursday, April 4th. Finally, Robert W. Baird boosted their target price on shares of Celanese from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Four investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $161.41.

Read Our Latest Stock Report on Celanese

Celanese Trading Down 1.0 %

CE opened at $144.94 on Tuesday. The stock has a market capitalization of $15.83 billion, a PE ratio of 7.98, a P/E/G ratio of 0.58 and a beta of 1.34. The firm’s fifty day moving average price is $156.03 and its 200 day moving average price is $152.76. 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 12-month low of $105.15 and a 12-month 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 earnings per share 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 during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, research analysts expect that Celanese Co. will post 11.47 EPS for the current fiscal year.

Celanese Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, April 26th. This represents a $2.80 annualized dividend and a yield of 1.93%. Celanese’s payout ratio is 15.41%.

Insider Transactions at Celanese

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