LSV Asset Management Purchases 350,175 Shares of Celanese Co. (CE)

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LSV Asset Management raised its position in shares of Celanese Co. (NYSE:CE) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,824,214 shares of the basic materials company’s stock after acquiring an additional 350,175 shares during the period. LSV Asset Management owned approximately 2.11% of Celanese worth $254,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baystate Wealth Management LLC increased its position in shares of Celanese by 200.9% during the 4th quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 221 shares during the last quarter. Strategic Wealth Partners Ltd. increased its position in shares of Celanese by 472.8% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 716 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 591 shares during the last quarter. CWM LLC increased its position in shares of Celanese by 18.4% during the 4th quarter. CWM LLC now owns 895 shares of the basic materials company’s stock valued at $81,000 after purchasing an additional 139 shares during the last quarter. First PREMIER Bank increased its position in shares of Celanese by 13.8% during the 4th quarter. First PREMIER Bank now owns 910 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 110 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Celanese by 38.0% during the 4th quarter. IFP Advisors Inc now owns 1,173 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 323 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Celanese stock opened at $96.03 on Monday. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 0.92 and a beta of 1.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.03 and a current ratio of 1.62. Celanese Co. has a 52 week low of $82.91 and a 52 week high of $119.29.

Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, January 28th. The basic materials company reported $2.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.02). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.72 billion. Celanese had a net margin of 16.87% and a return on equity of 40.37%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.98 EPS. On average, equities analysts expect that Celanese Co. will post 10.41 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, February 15th. Celanese’s payout ratio is 19.64%.

Several equities analysts have recently weighed in on the company. Cowen downgraded Celanese from an “outperform” rating to a “market perform” rating and cut their target price for the company from $122.00 to $108.00 in a research report on Wednesday, February 6th. ValuEngine raised Celanese from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Robert W. Baird reissued a “buy” rating and set a $120.00 target price on shares of Celanese in a research report on Wednesday, January 30th. KeyCorp cut their price objective on Celanese from $145.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 30th. Finally, UBS Group set a $126.00 price objective on Celanese and gave the company a “buy” rating in a research report on Tuesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Celanese has a consensus rating of “Hold” and an average price target of $115.24.

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Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

Further Reading: Price-Sales Ratio

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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