Cibc World Markets Corp Has $4.10 Million Position in Celanese Co. (NYSE:CE)

Cibc World Markets Corp lifted its stake in Celanese Co. (NYSE:CE) by 300.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,212 shares of the basic materials company’s stock after purchasing an additional 44,419 shares during the period. Cibc World Markets Corp owned 0.05% of Celanese worth $4,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CE. UMB Bank n.a. boosted its stake 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 stake 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 stake 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. EverSource Wealth Advisors LLC boosted its stake in Celanese by 200.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 498 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake 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 acquiring an additional 382 shares during the last quarter. 98.87% of the stock is owned by institutional investors.

Celanese Stock Down 2.2 %

Shares of CE stock opened at $57.26 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese Co. has a 1 year low of $45.94 and a 1 year high of $172.16. The firm’s fifty day moving average price is $63.31 and its two-hundred day moving average price is $87.72. The firm has a market capitalization of $6.26 billion, a P/E ratio of -4.11, a PEG ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. On average, equities analysts predict that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on CE shares. Citigroup raised shares of Celanese to a “neutral” rating and raised their price objective for the company from $73.00 to $76.00 in a research note on Thursday, January 23rd. Mizuho reduced their price target on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Robert W. Baird reduced their price target on shares of Celanese from $110.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut shares of Celanese from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Celanese from $92.00 to $54.00 and set a “neutral” 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 issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $72.18.

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.