Celanese Co. (NYSE:CE) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of Celanese Co. (NYSE:CE) by 200.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 746 shares of the basic materials company’s stock after purchasing an additional 498 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Celanese were worth $52,000 as of its most recent SEC filing.

Several other hedge funds have also 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 boosted its holdings in Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 202 shares during the last quarter. Brooklyn Investment Group acquired a new position in Celanese in the third quarter valued at $102,000. Finally, Millburn Ridgefield Corp acquired a new position in Celanese in the third quarter valued at $103,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Stock Down 2.2 %

Shares of Celanese stock opened at $57.26 on Thursday. 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 market cap of $6.26 billion, a P/E ratio of -4.11, a P/E/G ratio of 1.05 and a beta of 1.23. Celanese Co. has a fifty-two week low of $45.94 and a fifty-two week high of $172.16. The business has a 50-day moving average price of $63.31 and a 200 day moving average price of $87.72.

Celanese (NYSE:CE) last announced its quarterly earnings data 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. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. On average, sell-side analysts forecast that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.21%. The ex-dividend date was Tuesday, February 25th. Celanese’s dividend payout ratio is currently -0.86%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BMO Capital Markets reduced their target price on Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a report on Thursday, February 20th. UBS Group reduced their target price on Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Alembic Global Advisors upgraded Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 price objective on the stock in a research note on Monday. Wells Fargo & Company reduced their price objective on Celanese from $75.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. Finally, Royal Bank of Canada cut Celanese from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $84.00 to $56.00 in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Celanese has a consensus rating of “Hold” and a consensus price target of $72.18.

Celanese Company Profile

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.