Daiwa Securities Group Inc. Raises Stock Holdings in Celanese Co. (NYSE:CE)

Daiwa Securities Group Inc. boosted its stake in Celanese Co. (NYSE:CEFree Report) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,263 shares of the basic materials company’s stock after purchasing an additional 1,118 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Celanese were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CE. Capital World Investors raised its position in shares of Celanese by 43.2% during the 4th quarter. Capital World Investors now owns 6,137,688 shares of the basic materials company’s stock valued at $953,653,000 after buying an additional 1,852,099 shares in the last quarter. Wellington Management Group LLP lifted its stake in Celanese by 18.0% during the fourth quarter. Wellington Management Group LLP now owns 8,529,064 shares of the basic materials company’s stock worth $1,325,161,000 after purchasing an additional 1,302,758 shares during the last quarter. Capital Research Global Investors lifted its stake in Celanese by 3.3% during the fourth quarter. Capital Research Global Investors now owns 14,809,178 shares of the basic materials company’s stock worth $2,300,907,000 after purchasing an additional 468,003 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Celanese by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 13,077,014 shares of the basic materials company’s stock worth $2,031,776,000 after purchasing an additional 354,367 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of Celanese by 3.0% during the 4th quarter. Capital International Investors now owns 11,337,115 shares of the basic materials company’s stock valued at $1,761,567,000 after buying an additional 329,740 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors.

Celanese Stock Down 1.9 %

Shares of Celanese stock opened at $131.43 on Wednesday. The company’s fifty day simple moving average is $146.97 and its two-hundred day simple moving average is $151.78. Celanese Co. has a 12-month low of $110.76 and a 12-month high of $172.16. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. The company has a market cap of $14.35 billion, a P/E ratio of 7.23, a PEG ratio of 0.54 and a beta of 1.30.

Celanese (NYSE:CEGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.17. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. Celanese’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.01 earnings per share. Research analysts anticipate that Celanese Co. will post 11.41 EPS for the current year.

Celanese Announces Dividend

The company 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 2.13%. Celanese’s dividend payout ratio is presently 15.41%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CE. Wells Fargo & Company cut their target price on Celanese from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada increased their target price on shares of Celanese from $171.00 to $176.00 and gave the company an “outperform” rating in a report on Monday, May 13th. UBS Group lowered their price target on shares of Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $160.00 price objective (up previously from $135.00) on shares of Celanese in a report on Thursday, April 4th. Finally, Piper Sandler increased their target price on Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $160.24.

Get Our Latest Stock Analysis on Celanese

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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