Celanese Co. (CE) Holdings Boosted by Raymond James & Associates

Raymond James & Associates boosted its holdings in shares of Celanese Co. (NYSE:CE) by 22.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,358 shares of the basic materials company’s stock after buying an additional 9,700 shares during the quarter. Raymond James & Associates’ holdings in Celanese were worth $4,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CE. Baystate Wealth Management LLC boosted its stake in shares of Celanese by 200.9% in the fourth quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock valued at $32,000 after buying an additional 221 shares during the period. Acima Private Wealth LLC bought a new stake in shares of Celanese in the fourth quarter valued at approximately $31,000. Pearl River Capital LLC bought a new stake in shares of Celanese in the fourth quarter valued at approximately $36,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Celanese in the fourth quarter valued at approximately $37,000. Finally, Doyle Wealth Management purchased a new stake in Celanese in the 4th quarter valued at about $62,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

CE stock traded up $0.24 during mid-day trading on Wednesday, hitting $99.52. The stock had a trading volume of 5,717 shares, compared to its average volume of 1,397,121. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.62 and a quick ratio of 1.03. Celanese Co. has a 1-year low of $82.91 and a 1-year high of $119.29. The firm has a market cap of $13.28 billion, a P/E ratio of 9.10, a PEG ratio of 0.92 and a beta of 1.31.

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

The company also recently announced 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 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 15th. Celanese’s payout ratio is currently 19.64%.

CE has been the subject of a number of research analyst reports. ValuEngine downgraded Celanese from a “hold” rating to a “sell” rating in a report on Tuesday. Cowen lowered Celanese from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $122.00 to $108.00 in a research report on Wednesday, February 6th. Robert W. Baird restated a “buy” rating and issued a $120.00 price objective on shares of Celanese in a report on Wednesday, January 30th. KeyCorp cut their price objective on Celanese from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, January 30th. Finally, UBS Group set a $126.00 target price on Celanese and gave the company a “buy” rating in a report on Tuesday, January 29th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $115.24.

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Celanese 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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