Register Financial Advisors LLC Takes Position in Celanese Co. (NYSE:CE)

Register Financial Advisors LLC bought a new stake in Celanese Co. (NYSE:CE) in the first quarter, Holdings Channel reports. The institutional investor bought 282 shares of the basic materials company’s stock, valued at approximately $49,000.

A number of other institutional investors also recently modified their holdings of CE. Johnson Financial Group Inc. bought a new position in Celanese in the 4th quarter worth approximately $28,000. Desjardins Global Asset Management Inc. raised its position in Celanese by 142.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Celanese by 100.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 94 shares during the last quarter. Mather Group LLC. bought a new position in Celanese in the 1st quarter worth approximately $31,000. Finally, Raleigh Capital Management Inc. raised its position in Celanese by 51.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 275 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Analysts Set New Price Targets

CE has been the subject of several research analyst reports. KeyCorp boosted their price objective on shares of Celanese from $176.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Piper Sandler boosted their price objective on shares of Celanese from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $160.00 target price (up previously from $135.00) on shares of Celanese in a research report on Thursday, April 4th. Royal Bank of Canada upped their target price on shares of Celanese from $171.00 to $176.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $158.00 target price on shares of Celanese in a research report on Tuesday, June 11th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.41.

Celanese Price Performance

Shares of CE stock opened at $134.89 on Friday. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of 0.55 and a beta of 1.34. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. Celanese Co. has a 12-month low of $109.38 and a 12-month high of $172.16. The firm has a fifty day moving average of $150.06 and a 200-day moving average of $152.60.

Celanese (NYSE:CE) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. On average, equities research analysts forecast that Celanese Co. will post 11.41 earnings per share for the current year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, April 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, April 26th. Celanese’s payout ratio is presently 15.41%.

Celanese Company 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.