Celanese (NYSE:CE) Hits New 12-Month High at $159.32

Celanese Co. (NYSE:CE) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $159.32 and last traded at $158.66, with a volume of 592626 shares changing hands. The stock had previously closed at $155.54.

A number of research analysts recently issued reports on CE shares. Barclays boosted their target price on shares of Celanese from $145.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Celanese from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, March 31st. BMO Capital Markets boosted their target price on shares of Celanese from $171.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Tuesday, March 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Celanese in a research report on Tuesday, April 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $131.79.

The business’s fifty day moving average is $150.36 and its 200-day moving average is $133.72. The stock has a market capitalization of $17.59 billion, a PE ratio of 31.90, a P/E/G ratio of 2.43 and a beta of 1.21. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 1.09.

Celanese (NYSE:CE) last released its earnings results on Thursday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.46. Celanese had a net margin of 10.46% and a return on equity of 31.41%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. Celanese’s revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Celanese Co. will post 7.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Shareholders of record on Monday, April 26th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, April 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.77%. Celanese’s dividend payout ratio (DPR) is 28.54%.

In other news, Director John K. Wulff sold 6,000 shares of the business’s stock in a transaction on Monday, April 12th. The shares were sold at an average price of $153.82, for a total transaction of $922,920.00. Following the transaction, the director now directly owns 12,421 shares of the company’s stock, valued at $1,910,598.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John K. Wulff sold 750 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $133.55, for a total transaction of $100,162.50. Following the transaction, the director now directly owns 17,221 shares in the company, valued at $2,299,864.55. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Several large investors have recently modified their holdings of CE. Vantage Consulting Group Inc acquired a new stake in Celanese in the fourth quarter worth about $31,000. Perigon Wealth Management LLC acquired a new stake in Celanese in the 4th quarter valued at about $41,000. Ellevest Inc. lifted its holdings in Celanese by 264.8% in the 4th quarter. Ellevest Inc. now owns 321 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 233 shares during the last quarter. Kinloch Capital LLC acquired a new stake in Celanese in the 4th quarter valued at about $44,000. Finally, Tompkins Financial Corp acquired a new stake in Celanese in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 97.51% of the company’s stock.

About Celanese (NYSE:CE)

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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