Tidal Investments LLC Buys 209 Shares of Celanese Co. (NYSE:CE)

Tidal Investments LLC grew its stake in shares of Celanese Co. (NYSE:CE) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,263 shares of the basic materials company’s stock after buying an additional 209 shares during the period. Tidal Investments LLC’s holdings in Celanese were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Focus Partners Wealth increased its position in shares of Celanese by 3.9% in the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company’s stock worth $291,000 after purchasing an additional 156 shares during the last quarter. United Capital Financial Advisors LLC increased its position in shares of Celanese by 2.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. increased its position in shares of Celanese by 15.0% in the fourth quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 192 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 202 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Celanese by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 21,239 shares of the basic materials company’s stock worth $1,470,000 after purchasing an additional 230 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors.

Insider Activity at Celanese

In other news, SVP Mark Christopher Murray acquired 1,479 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $52.18 per share, for a total transaction of $77,174.22. Following the completion of the acquisition, the senior vice president now owns 15,468 shares in the company, valued at $807,120.24. This trade represents a 10.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CE shares. Royal Bank of Canada cut shares of Celanese from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $84.00 to $56.00 in a research report on Thursday, February 20th. KeyCorp upped their target price on Celanese from $71.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Evercore ISI cut their target price on Celanese from $85.00 to $75.00 and set an “in-line” rating for the company in a research note on Monday, March 24th. BMO Capital Markets raised Celanese from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $46.00 to $55.00 in a research note on Tuesday, May 20th. Finally, Citigroup cut their target price on Celanese from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Celanese currently has an average rating of “Hold” and a consensus price target of $61.94.

Celanese Stock Performance

Shares of CE stock opened at $52.86 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34. The company has a market capitalization of $5.78 billion, a P/E ratio of -3.79, a PEG ratio of 1.05 and a beta of 1.09. The stock has a 50 day moving average price of $47.69 and a two-hundred day moving average price of $59.63. Celanese Co. has a fifty-two week low of $36.29 and a fifty-two week high of $152.50.

Celanese (NYSE:CE) last announced its earnings results on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. Analysts expect that Celanese Co. will post 8.79 earnings per share for the current year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, April 28th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. Celanese’s dividend payout ratio is presently -0.79%.

Celanese Profile

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.