JFS Wealth Advisors LLC Boosts Stake in Celanese Co. (NYSE:CE)

JFS Wealth Advisors LLC raised its holdings in Celanese Co. (NYSE:CEFree Report) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188 shares of the basic materials company’s stock after acquiring an additional 94 shares during the period. JFS Wealth Advisors LLC’s holdings in Celanese were worth $29,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. FMR LLC raised its position in Celanese by 9.9% during the third quarter. FMR LLC now owns 6,340,305 shares of the basic materials company’s stock valued at $795,835,000 after purchasing an additional 570,501 shares in the last quarter. Vanguard Group Inc. lifted its position in Celanese by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock worth $1,596,947,000 after buying an additional 323,862 shares during the last quarter. Invesco Ltd. boosted its stake in Celanese by 8.2% in the third quarter. Invesco Ltd. now owns 3,022,169 shares of the basic materials company’s stock worth $379,343,000 after buying an additional 230,275 shares in the last quarter. Epoch Investment Partners Inc. grew its position in Celanese by 1,593.6% during the third quarter. Epoch Investment Partners Inc. now owns 160,370 shares of the basic materials company’s stock valued at $20,130,000 after acquiring an additional 150,901 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Celanese during the third quarter worth approximately $7,879,000. Institutional investors own 98.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CE shares. Piper Sandler upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and upped their price target for the company from $135.00 to $170.00 in a research report on Monday, February 26th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $160.00 price target (up previously from $135.00) on shares of Celanese in a research note on Thursday, April 4th. KeyCorp boosted their price target on shares of Celanese from $176.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. StockNews.com raised Celanese from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company boosted their target price on shares of Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $153.78.

Read Our Latest Report on CE

Insider Transactions at Celanese

In other Celanese 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 sale, the chief operating officer now owns 76,429 shares in the company, valued at approximately $11,987,888.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Scott A. Richardson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total transaction of $313,700.00. Following the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at approximately $11,987,888.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Christopher Murray purchased 597 shares of Celanese stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $156.43 per share, for a total transaction of $93,388.71. Following the transaction, the senior vice president now directly owns 11,600 shares of the company’s stock, valued at approximately $1,814,588. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Celanese Price Performance

Shares of CE traded down $4.73 during trading hours on Friday, reaching $156.69. 767,462 shares of the stock traded hands, compared to its average volume of 599,730. The company has a market cap of $17.07 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.46. The company’s 50-day moving average price is $160.15 and its two-hundred day moving average price is $147.97. Celanese Co. has a 52-week low of $100.16 and a 52-week high of $172.16.

Celanese (NYSE:CEGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.91 by $0.17. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the business earned $2.01 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that Celanese Co. will post 11.35 earnings per share for the current year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, April 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, April 26th. Celanese’s payout ratio is currently 15.41%.

About Celanese

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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