Celanese Co. (CE) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its stake in shares of Celanese Co. (NYSE:CE) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 188,017 shares of the basic materials company’s stock after selling 6,376 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of Celanese worth $16,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. First PREMIER Bank lifted its holdings in shares of Celanese by 13.8% during the 4th quarter. First PREMIER Bank now owns 910 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 110 shares during the last quarter. CWM LLC lifted its holdings in shares of Celanese by 18.4% during the 4th quarter. CWM LLC now owns 895 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 139 shares during the last quarter. Signition LP lifted its holdings in shares of Celanese by 3.8% during the 4th quarter. Signition LP now owns 4,118 shares of the basic materials company’s stock worth $370,000 after acquiring an additional 151 shares during the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of Celanese by 1.6% during the 4th quarter. Sumitomo Life Insurance Co. now owns 11,381 shares of the basic materials company’s stock worth $1,024,000 after acquiring an additional 181 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Celanese by 17.4% during the 4th quarter. CENTRAL TRUST Co now owns 1,282 shares of the basic materials company’s stock worth $115,000 after acquiring an additional 190 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Celanese from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, October 22nd. Robert W. Baird dropped their price objective on shares of Celanese from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. Alembic Global Advisors set a $103.00 target price on shares of Celanese and gave the stock a “sell” rating in a research report on Thursday, October 18th. UBS Group set a $126.00 target price on shares of Celanese and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Cowen cut shares of Celanese from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $122.00 to $108.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $115.24.

Shares of NYSE:CE opened at $96.03 on Friday. The firm has a market capitalization of $12.84 billion, a P/E ratio of 8.73, a price-to-earnings-growth ratio of 0.92 and a beta of 1.31. Celanese Co. has a 52 week low of $82.91 and a 52 week high of $119.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.03 and a current ratio of 1.62.

Celanese (NYSE:CE) last issued its earnings results on Monday, January 28th. The basic materials company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.02). Celanese had a return on equity of 40.37% and a net margin of 16.87%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $1.98 EPS. Celanese’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Celanese Co. will post 10.41 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, February 15th. Celanese’s payout ratio is 19.64%.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://www.com-unik.info/2019/02/09/celanese-co-ce-shares-sold-by-state-board-of-administration-of-florida-retirement-system.html.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

Further Reading: How Important is Technical Analysis of Stocks

Institutional Ownership by Quarter for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit