Celanese Co. (NYSE:CE) Shares Acquired by Capital World Investors

by · The Markets Daily

Capital World Investors increased its position in shares of Celanese Co. (NYSE:CE – Free Report) by 43.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,137,688 shares of the basic materials company’s stock after purchasing an additional 1,852,099 shares during the quarter. Capital World Investors owned 0.06% of Celanese worth $953,653,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors increased its position in Celanese by 3.3% during the fourth quarter. Capital Research Global Investors now owns 14,809,178 shares of the basic materials company’s stock worth $2,300,907,000 after buying an additional 468,003 shares in the last quarter. Capital International Sarl lifted its holdings in Celanese by 9.9% in the 4th quarter. Capital International Sarl now owns 32,417 shares of the basic materials company’s stock valued at $5,037,000 after purchasing an additional 2,914 shares in the last quarter. Capital International Investors boosted its stake in shares of Celanese by 3.0% during the 4th quarter. Capital International Investors now owns 11,337,115 shares of the basic materials company’s stock worth $1,761,567,000 after purchasing an additional 329,740 shares during the last quarter. Copperwynd Financial LLC grew its holdings in shares of Celanese by 3.3% during the fourth quarter. Copperwynd Financial LLC now owns 4,297 shares of the basic materials company’s stock worth $668,000 after buying an additional 139 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Celanese by 7.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,995 shares of the basic materials company’s stock valued at $776,000 after buying an additional 341 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CE. Royal Bank of Canada lifted their target price on shares of Celanese from $171.00 to $176.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Mizuho upped their target price on Celanese from $161.00 to $173.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Barclays cut Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price target for the company. in a report on Thursday, April 4th. StockNews.com upgraded shares of Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Citigroup boosted their target price on shares of Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.78.

View Our Latest Stock Report on CE

Celanese Stock Performance

Shares of NYSE CE traded up $1.71 during trading on Wednesday, reaching $146.96. The stock had a trading volume of 390,693 shares, compared to its average volume of 692,604. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. The stock has a market cap of $16.05 billion, a PE ratio of 7.99, a P/E/G ratio of 0.59 and a beta of 1.34. Celanese Co. has a one year low of $105.15 and a one year high of $172.16. The firm’s 50 day moving average price is $158.00 and its two-hundred day moving average price is $152.33.

Celanese (NYSE:CE – Get Free Report) last issued 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. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts forecast that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, April 29th were paid a $0.70 dividend. The ex-dividend date was Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a yield of 1.91%. Celanese’s payout ratio is currently 15.41%.

Insider Activity

In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the sale, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total value of $313,700.00. Following the sale, the chief operating officer now owns 76,429 shares in the company, valued at $11,987,888.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark Christopher Murray purchased 597 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $156.43 per share, for a total transaction of $93,388.71. Following the acquisition, the senior vice president now owns 11,600 shares of the company’s stock, valued at approximately $1,814,588. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

Celanese Company 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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