BerganKDV Wealth Management LLC Has $2.43 Million Position in Celanese Co. (NYSE:CE)

BerganKDV Wealth Management LLC lifted its stake in Celanese Co. (NYSE:CEGet Rating) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,985 shares of the basic materials company’s stock after purchasing an additional 1,922 shares during the period. BerganKDV Wealth Management LLC’s holdings in Celanese were worth $2,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CE. Norges Bank acquired a new stake in shares of Celanese in the fourth quarter valued at approximately $223,876,000. Millennium Management LLC boosted its stake in Celanese by 121.7% in the fourth quarter. Millennium Management LLC now owns 1,048,645 shares of the basic materials company’s stock valued at $176,235,000 after acquiring an additional 575,684 shares during the last quarter. Artemis Investment Management LLP boosted its stake in Celanese by 2,218.6% in the fourth quarter. Artemis Investment Management LLP now owns 549,458 shares of the basic materials company’s stock valued at $92,277,000 after acquiring an additional 525,760 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Celanese in the fourth quarter valued at approximately $45,597,000. Finally, State of Tennessee Treasury Department boosted its stake in Celanese by 62.8% in the fourth quarter. State of Tennessee Treasury Department now owns 472,405 shares of the basic materials company’s stock valued at $79,392,000 after acquiring an additional 182,148 shares during the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.

Celanese Stock Performance

CE traded down $0.13 on Friday, reaching $110.85. The company had a trading volume of 783,408 shares, compared to its average volume of 1,230,258. Celanese Co. has a fifty-two week low of $104.74 and a fifty-two week high of $176.50. The stock has a market cap of $12.01 billion, a P/E ratio of 6.18 and a beta of 1.22. The company’s fifty day moving average is $125.30 and its 200 day moving average is $139.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.72.

Celanese (NYSE:CEGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The basic materials company reported $4.99 EPS for the quarter, beating analysts’ consensus estimates of $4.56 by $0.43. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.39 billion. Celanese had a net margin of 20.55% and a return on equity of 46.75%. Celanese’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.02 EPS. As a group, analysts predict that Celanese Co. will post 18 earnings per share for the current fiscal year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Monday, July 25th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $2.72 annualized dividend and a yield of 2.45%. Celanese’s dividend payout ratio is 15.16%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CE shares. StockNews.com cut shares of Celanese from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Barclays reduced their price objective on shares of Celanese from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of Celanese from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, June 27th. Jefferies Financial Group cut shares of Celanese from a “buy” rating to a “hold” rating in a research note on Thursday, June 16th. Finally, UBS Group reduced their price target on shares of Celanese from $166.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Celanese has an average rating of “Hold” and a consensus target price of $161.80.

Celanese Company Profile

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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 three segments: Engineered Materials, Acetate Tow, 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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