Townsquare Capital LLC Has $447,000 Stock Position in Celanese Co. (NYSE:CE)

Townsquare Capital LLC lifted its holdings in Celanese Co. (NYSE:CE) by 102.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,461 shares of the basic materials company’s stock after acquiring an additional 3,269 shares during the period. Townsquare Capital LLC’s holdings in Celanese were worth $447,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised its stake in Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 194 shares in the last quarter. CKW Financial Group boosted its position in shares of Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 185 shares in the last quarter. CENTRAL TRUST Co increased its stake in Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 202 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Celanese by 200.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 498 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Celanese by 51.1% during the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 382 shares during the last quarter. 98.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CE. KeyCorp lowered their price target on Celanese from $76.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, April 14th. StockNews.com downgraded shares of Celanese from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Alembic Global Advisors upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Wells Fargo & Company cut their price objective on Celanese from $55.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley lowered their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.33.

Celanese Stock Up 6.7 %

Shares of NYSE CE opened at $40.03 on Monday. Celanese Co. has a 52-week low of $36.29 and a 52-week high of $169.50. The company’s 50 day moving average price is $52.06 and its 200-day moving average price is $74.02. The company has a market capitalization of $4.38 billion, a P/E ratio of -2.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. Equities analysts forecast that Celanese Co. will post 8.79 earnings per share for the current year.

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, April 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, April 28th. Celanese’s payout ratio is currently -0.86%.

About Celanese

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.