First Hawaiian Bank Purchases 8,269 Shares of Celanese Co. (NYSE:CE)

First Hawaiian Bank lifted its position in shares of Celanese Co. (NYSE:CE) by 116.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,400 shares of the basic materials company’s stock after acquiring an additional 8,269 shares during the quarter. First Hawaiian Bank’s holdings in Celanese were worth $1,066,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. DT Investment Partners LLC boosted its position in Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Fairscale Capital LLC bought a new position in Celanese in the 2nd quarter worth approximately $28,000. Mather Group LLC. grew its stake in Celanese by 124.0% in the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after buying an additional 222 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Celanese by 1,395.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 600 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Celanese in the third quarter worth $89,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CE. Citigroup decreased their price objective on Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Barclays cut their price objective on shares of Celanese from $101.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 19th. Piper Sandler decreased their target price on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday. UBS Group downgraded shares of Celanese from a “buy” rating to a “neutral” rating and cut their price target for the company from $161.00 to $97.00 in a report on Monday, November 11th. Finally, Wells Fargo & Company cut shares of Celanese from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $165.00 to $115.00 in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Celanese presently has a consensus rating of “Hold” and an average target price of $109.33.

Celanese Price Performance

Shares of NYSE:CE opened at $64.88 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock has a market cap of $7.09 billion, a PE ratio of 6.53, a PEG ratio of 0.72 and a beta of 1.18. The company’s fifty day moving average is $75.43 and its 200 day moving average is $112.27. Celanese Co. has a 52 week low of $64.36 and a 52 week high of $172.16.

Celanese (NYSE:CE) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. Research analysts anticipate that Celanese Co. will post 8.38 earnings per share for the current year.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Wednesday, October 30th. Celanese’s payout ratio is 28.17%.

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.