7,478 Shares in Celanese Co. (NYSE:CE) Bought by Schonfeld Strategic Advisors LLC
Schonfeld Strategic Advisors LLC bought a new position in shares of Celanese Co. (NYSE:CE) during the 4th quarter, HoldingsChannel reports. The firm bought 7,478 shares of the basic materials company’s stock, valued at approximately $921,000.
A number of other hedge funds have also made changes to their positions in CE. Hall Laurie J Trustee purchased a new position in Celanese during the 4th quarter worth $25,000. Solstein Capital LLC purchased a new stake in Celanese during the 4th quarter valued at about $27,000. Americana Partners LLC purchased a new stake in Celanese during the 4th quarter valued at about $63,000. CKW Financial Group purchased a new stake in Celanese during the 4th quarter valued at about $68,000. Finally, CSat Investment Advisory L.P. grew its stake in Celanese by 25.6% during the 4th quarter. CSat Investment Advisory L.P. now owns 569 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.
CE has been the topic of several research analyst reports. UBS Group dropped their price target on Celanese from $128.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley dropped their price target on Celanese from $124.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. KeyCorp initiated coverage on Celanese in a research note on Wednesday. They set a “sector weight” rating on the stock. Zacks Investment Research upgraded Celanese from a “sell” rating to a “hold” rating and set a $113.00 price target on the stock in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus dropped their price target on Celanese from $103.00 to $83.00 and set a “hold” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $111.63.
Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.10). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.52 billion. Celanese had a net margin of 13.53% and a return on equity of 37.36%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. Equities research analysts expect that Celanese Co. will post 10.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.62 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.28%. Celanese’s dividend payout ratio (DPR) is presently 26.02%.
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.
Further Reading: What is the downside to momentum investing?
Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Co. (NYSE:CE).
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.