ING Groep NV lessened its stake in shares of Celanese Co. (NYSE:CE) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,559 shares of the basic materials company’s stock after selling 195 shares during the quarter. ING Groep NV’s holdings in Celanese were worth $1,132,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Denali Advisors LLC acquired a new position in shares of Celanese during the 1st quarter worth approximately $30,000. Vantage Consulting Group Inc acquired a new position in Celanese in the fourth quarter valued at $31,000. Ellevest Inc. boosted its stake in shares of Celanese by 264.8% during the fourth quarter. Ellevest Inc. now owns 321 shares of the basic materials company’s stock worth $42,000 after buying an additional 233 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Celanese during the first quarter worth about $43,000. Finally, Tompkins Financial Corp purchased a new position in Celanese during the fourth quarter worth about $67,000. 92.82% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John K. Wulff sold 6,000 shares of Celanese stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $153.82, for a total value of $922,920.00. Following the sale, the director now directly owns 12,421 shares in the company, valued at approximately $1,910,598.22. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.
Celanese (NYSE:CE) last issued its earnings results on Wednesday, April 21st. The basic materials company reported $3.46 EPS for the quarter, topping the consensus estimate of $2.96 by $0.50. Celanese had a return on equity of 30.19% and a net margin of 34.86%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts anticipate that Celanese Co. will post 13.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 10th. Shareholders of record on Monday, April 26th were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, April 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.69%. Celanese’s dividend payout ratio (DPR) is currently 35.60%.
Several research firms have recently commented on CE. Morgan Stanley increased their price target on shares of Celanese from $150.00 to $157.00 and gave the company an “equal weight” rating in a research report on Monday, April 26th. Jefferies Financial Group reissued a “buy” rating on shares of Celanese in a research note on Tuesday, April 6th. Alembic Global Advisors lifted their price target on shares of Celanese from $155.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, May 3rd. Wells Fargo & Company lifted their price target on shares of Celanese from $165.00 to $183.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Finally, The Goldman Sachs Group lowered shares of Celanese from a “buy” rating to a “neutral” rating and set a $184.00 target price for the company. in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $159.29.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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