Cullen Frost Bankers Inc. raised its position in Celanese Co. (NYSE:CE) by 61.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,548 shares of the basic materials company’s stock after purchasing an additional 5,916 shares during the period. Cullen Frost Bankers Inc.’s holdings in Celanese were worth $1,914,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of CE. Golden State Wealth Management LLC bought a new position in Celanese in the 3rd quarter worth about $25,000. Synovus Financial Corp grew its stake in Celanese by 162.1% in the 3rd quarter. Synovus Financial Corp now owns 249 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 154 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Celanese by 410.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 510 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 410 shares in the last quarter. Signaturefd LLC grew its stake in Celanese by 37.9% in the 3rd quarter. Signaturefd LLC now owns 848 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 233 shares in the last quarter. Finally, Huntington National Bank grew its stake in Celanese by 20.0% in the 4th quarter. Huntington National Bank now owns 997 shares of the basic materials company’s stock worth $122,000 after acquiring an additional 166 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.
CE has been the topic of a number of research analyst reports. TheStreet downgraded shares of Celanese from a “b” rating to a “c+” rating in a research note on Friday, January 31st. Bank of America upgraded shares of Celanese from an “underperform” rating to a “neutral” rating and set a $110.00 target price on the stock in a research note on Monday, February 3rd. Zacks Investment Research upgraded shares of Celanese from a “sell” rating to a “hold” rating and set a $113.00 target price on the stock in a research note on Wednesday, February 5th. SunTrust Banks dropped their target price on shares of Celanese to and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group dropped their target price on shares of Celanese from $142.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $119.71.
Celanese (NYSE:CE) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.10). The firm 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%. Celanese’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned $2.38 earnings per share. On average, sell-side analysts expect that Celanese Co. will post 10.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.62 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.48 annualized dividend and a yield of 2.25%. Celanese’s dividend payout ratio (DPR) is 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.
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