Allworth Financial LP Has $32,000 Stake in Celanese Corporation (NYSE:CE)

Allworth Financial LP reduced its stake in shares of Celanese Corporation (NYSE:CE) by 59.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 565 shares of the basic materials company’s stock after selling 815 shares during the period. Allworth Financial LP’s holdings in Celanese were worth $32,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Celanese during the fourth quarter worth $7,168,000. Commonwealth Equity Services LLC lifted its stake in Celanese by 22.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 17,179 shares of the basic materials company’s stock valued at $1,189,000 after acquiring an additional 3,187 shares in the last quarter. Xponance Inc. boosted its holdings in Celanese by 6.6% during the 4th quarter. Xponance Inc. now owns 18,375 shares of the basic materials company’s stock worth $1,272,000 after acquiring an additional 1,137 shares during the last quarter. Semanteon Capital Management LP bought a new stake in shares of Celanese in the 4th quarter worth $1,440,000. Finally, Sei Investments Co. raised its holdings in shares of Celanese by 91.8% in the fourth quarter. Sei Investments Co. now owns 126,660 shares of the basic materials company’s stock valued at $8,766,000 after purchasing an additional 60,621 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Celanese

In related news, SVP Mark Christopher Murray acquired 1,479 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $52.18 per share, with a total value of $77,174.22. Following the acquisition, the senior vice president owned 15,468 shares of the company’s stock, valued at approximately $807,120.24. This trade represents a 10.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore ISI cut their price target on shares of Celanese from $85.00 to $75.00 and set an “in-line” rating on the stock in a report on Monday, March 24th. Barclays lifted their target price on shares of Celanese from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Wall Street Zen raised Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $63.00 price target (up from $53.00) on shares of Celanese in a research report on Thursday, July 3rd. Finally, UBS Group lifted their price target on Celanese from $51.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.50.

Celanese Price Performance

Shares of NYSE:CE opened at $57.35 on Friday. The firm has a market capitalization of $6.27 billion, a PE ratio of -3.77, a P/E/G ratio of 2.20 and a beta of 1.14. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average price of $55.96 and a two-hundred day moving average price of $56.37. Celanese Corporation has a twelve month low of $36.29 and a twelve month high of $144.59.

Celanese (NYSE:CE) last announced its quarterly 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. Celanese had a negative net margin of 16.54% and a positive return on equity of 11.28%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the company posted $2.08 EPS. Celanese’s revenue was down 8.5% compared to the same quarter last year. Equities analysts forecast that Celanese Corporation will post 8.79 EPS for the current year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Tuesday, July 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Tuesday, July 29th. Celanese’s payout ratio is currently -0.79%.

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.