Callan Family Office LLC Buys Shares of 5,351 Celanese Co. (NYSE:CE)

Callan Family Office LLC bought a new stake in Celanese Co. (NYSE:CE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,351 shares of the basic materials company’s stock, valued at approximately $370,000.

A number of other institutional investors also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC lifted its stake in shares of Celanese by 0.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after buying an additional 145 shares in the last quarter. Neumann Capital Management LLC lifted its stake in shares of Celanese by 5.3% during the 3rd quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after buying an additional 150 shares in the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Celanese by 3.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock valued at $715,000 after buying an additional 161 shares in the last quarter. CKW Financial Group lifted its stake in shares of Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after buying an additional 185 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Celanese by 15.0% during the 4th quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 192 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CE has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Celanese from $77.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. StockNews.com lowered shares of Celanese from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. BMO Capital Markets decreased their target price on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Celanese from $92.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Robert W. Baird decreased their target price on shares of Celanese from $110.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Celanese currently has a consensus rating of “Hold” and an average target price of $72.31.

Celanese Trading Down 2.2 %

Shares of CE opened at $54.10 on Tuesday. The stock has a market capitalization of $5.92 billion, a P/E ratio of -3.88, a PEG ratio of 1.05 and a beta of 1.23. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The firm has a fifty day simple moving average of $65.01 and a two-hundred day simple moving average of $91.42. Celanese Co. has a twelve month low of $45.94 and a twelve month high of $172.16.

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

Celanese Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. Celanese’s dividend payout ratio is -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.