Shares of Celanese Co. (NYSE:CE) have earned an average rating of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $117.79.
Several research firms have commented on CE. KeyCorp cut shares of Steris from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 9th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$17.00 target price on shares of Wajax in a research note on Thursday, June 20th. Deutsche Bank lifted their target price on shares of Texas Instruments from $100.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, April 24th. Finally, Barclays lowered their target price on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 24th.
Shares of CE opened at $107.06 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58. The stock’s 50 day simple moving average is $104.35. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29. The stock has a market cap of $13.43 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.42.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 26th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.32%. Celanese’s dividend payout ratio (DPR) is presently 22.55%.
In other Celanese news, Director John K. Wulff sold 9,175 shares of Celanese stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total value of $993,836.00. Following the transaction, the director now owns 19,872 shares in the company, valued at approximately $2,152,535.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in shares of Celanese by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 2,967,489 shares of the basic materials company’s stock valued at $292,624,000 after acquiring an additional 146,569 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Celanese by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock valued at $186,634,000 after acquiring an additional 323,714 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Celanese by 61.5% during the 4th quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock valued at $163,756,000 after acquiring an additional 694,491 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Celanese by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,359,879 shares of the basic materials company’s stock valued at $134,097,000 after acquiring an additional 28,375 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Celanese by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,353,590 shares of the basic materials company’s stock valued at $133,477,000 after acquiring an additional 16,072 shares in the last quarter. Institutional investors own 97.33% of the company’s stock.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.
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