Celanese Co. (NYSE:CE) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lowered its position in Celanese Co. (NYSE:CE) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,052 shares of the basic materials company’s stock after selling 196 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Celanese were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Celanese by 25.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 327 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 67 shares in the last quarter. XML Financial LLC boosted its position in shares of Celanese by 2.3% in the third quarter. XML Financial LLC now owns 3,710 shares of the basic materials company’s stock worth $466,000 after buying an additional 85 shares during the period. Signaturefd LLC grew its stake in shares of Celanese by 3.5% in the third quarter. Signaturefd LLC now owns 2,533 shares of the basic materials company’s stock valued at $318,000 after buying an additional 85 shares in the last quarter. New York Life Investment Management LLC lifted its position in Celanese by 0.6% during the 3rd quarter. New York Life Investment Management LLC now owns 14,521 shares of the basic materials company’s stock worth $1,823,000 after acquiring an additional 91 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in Celanese by 51.1% in the third quarter. Raleigh Capital Management Inc. now owns 275 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Trading Up 0.5 %

Shares of NYSE:CE opened at $154.42 on Thursday. The firm has a fifty day moving average of $158.88 and a two-hundred day moving average of $145.91. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 1.63. Celanese Co. has a 12-month low of $99.33 and a 12-month high of $172.16. The firm has a market capitalization of $16.82 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.59 billion. Celanese had a net margin of 17.92% and a return on equity of 14.61%. Celanese’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 EPS. On average, equities analysts expect that Celanese Co. will post 11.35 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, April 29th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. Celanese’s dividend payout ratio is currently 15.64%.

Insider Activity

In other news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Scott A. Richardson sold 2,000 shares of Celanese stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the transaction, the chief operating officer now directly owns 76,429 shares in the company, valued at $11,987,888.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas Francis Kelly acquired 1,400 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $156.69 per share, with a total value of $219,366.00. Following the transaction, the senior vice president now directly owns 57,023 shares in the company, valued at approximately $8,934,933.87. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CE. Piper Sandler raised shares of Celanese from a “neutral” rating to an “overweight” rating and raised their price target for the company from $135.00 to $170.00 in a report on Monday, February 26th. Royal Bank of Canada lifted their price target on shares of Celanese from $165.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Alembic Global Advisors cut shares of Celanese from an “overweight” rating to a “neutral” rating and set a $160.00 price target on the stock. in a report on Monday, January 22nd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $160.00 price objective (up from $135.00) on shares of Celanese in a report on Thursday, April 4th. Finally, Wells Fargo & Company increased their price target on shares of Celanese from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Celanese presently has an average rating of “Hold” and an average price target of $149.56.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials 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.