Celanese Co. (NYSE:CE) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Celanese Co. (NYSE:CE) by 95.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,562 shares of the basic materials company’s stock after selling 330,880 shares during the quarter. Corient Private Wealth LLC’s holdings in Celanese were worth $1,008,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CE. UMB Bank n.a. boosted its holdings in Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 194 shares during the last quarter. CKW Financial Group raised its holdings in shares of Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 185 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 202 shares during the period. EverSource Wealth Advisors LLC increased its position in Celanese by 200.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 498 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Celanese by 51.1% in the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after buying an additional 382 shares during the period. 98.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CE. Mizuho dropped their price objective on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. cut their price objective on Celanese from $92.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Citigroup raised Celanese to a “neutral” rating and upped their target price for the stock from $73.00 to $76.00 in a research report on Thursday, January 23rd. Bank of America dropped their target price on Celanese from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, BMO Capital Markets reduced their price target on Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.67.

Celanese Stock Performance

Shares of CE stock opened at $59.17 on Thursday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of -4.25, a PEG ratio of 1.05 and a beta of 1.23. Celanese Co. has a one year low of $45.94 and a one year high of $172.16. The company’s 50-day simple moving average is $62.45 and its 200-day simple moving average is $85.39.

Celanese (NYSE:CE) last issued its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.25 by $0.20. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Equities analysts anticipate that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Tuesday, February 25th. Celanese’s dividend payout ratio (DPR) is presently -0.86%.

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.