Matrix Trust Co Buys 1,293 Shares of Celanese Co. (NYSE:CE)

Matrix Trust Co boosted its position in shares of Celanese Co. (NYSE:CEFree Report) by 1,186.2% in the fourth quarter, HoldingsChannel reports. The fund owned 1,402 shares of the basic materials company’s stock after purchasing an additional 1,293 shares during the quarter. Matrix Trust Co’s holdings in Celanese were worth $97,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CE. Wellington Management Group LLP increased its holdings in Celanese by 27.4% in the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after buying an additional 2,036,362 shares during the period. State Street Corp raised its holdings in Celanese by 3.1% in the 3rd quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after purchasing an additional 136,994 shares during the period. Geode Capital Management LLC grew its holdings in Celanese by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock valued at $353,145,000 after purchasing an additional 177,552 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Celanese by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,161,298 shares of the basic materials company’s stock valued at $156,663,000 after buying an additional 150,201 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Celanese by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock worth $134,723,000 after buying an additional 69,606 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Price Performance

CE stock opened at $67.28 on Tuesday. The business has a fifty day moving average of $73.02 and a two-hundred day moving average of $111.07. 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 $7.35 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 0.72 and a beta of 1.18. Celanese Co. has a 52-week low of $64.05 and a 52-week high of $172.16.

Celanese (NYSE:CEGet Free Report) last released its quarterly 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 business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, research analysts anticipate that Celanese Co. will post 8.38 earnings per share for the current year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a $0.70 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 annualized dividend and a yield of 4.16%. Celanese’s dividend payout ratio (DPR) is presently 28.17%.

Analysts Set New Price Targets

Several brokerages recently commented on CE. KeyCorp lowered shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. BMO Capital Markets downgraded shares of Celanese from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $138.00 to $76.00 in a research report on Monday, November 11th. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, October 29th. Piper Sandler decreased their target price on Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Citigroup lowered their price target on Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.22.

View Our Latest Research Report on Celanese

Celanese Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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