Barings LLC Acquires 47,180 Shares of Celanese Co. (CE)
Barings LLC boosted its holdings in Celanese Co. (NYSE:CE) by 121.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,890 shares of the basic materials company’s stock after buying an additional 47,180 shares during the quarter. Barings LLC’s holdings in Celanese were worth $9,197,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. grew its position in Celanese by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,230,082 shares of the basic materials company’s stock worth $238,797,000 after buying an additional 212,134 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Celanese by 13.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock worth $224,274,000 after buying an additional 253,809 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Celanese by 5.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,683,032 shares of the basic materials company’s stock worth $175,490,000 after buying an additional 88,311 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Celanese by 15.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,048,124 shares of the basic materials company’s stock worth $109,288,000 after buying an additional 140,148 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in Celanese by 0.3% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 812,483 shares of the basic materials company’s stock worth $84,718,000 after buying an additional 2,188 shares during the last quarter. Hedge funds and other institutional investors own 95.77% of the company’s stock.
Shares of Celanese Co. (CE) opened at $101.15 on Wednesday. The stock has a market cap of $13,740.00, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27. Celanese Co. has a 52 week low of $83.34 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, February 16th. Celanese’s dividend payout ratio (DPR) is currently 29.73%.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of Celanese stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.42% of the company’s stock.
Several research analysts have issued reports on CE shares. Zacks Investment Research lowered shares of Celanese from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Tudor Pickering started coverage on shares of Celanese in a research report on Tuesday, November 14th. They issued a “buy” rating on the stock. Wells Fargo & Co restated a “market perform” rating and issued a $110.00 price target (up previously from $104.00) on shares of Celanese in a research report on Wednesday, January 17th. UBS Group lifted their price target on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. Finally, Citigroup decreased their price objective on shares of Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Celanese presently has an average rating of “Buy” and a consensus target price of $113.28.
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Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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