Allworth Financial LP Sells 418 Shares of Celanese Co. (NYSE:CE)

Allworth Financial LP lowered its stake in shares of Celanese Co. (NYSE:CE) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,380 shares of the basic materials company’s stock after selling 418 shares during the quarter. Allworth Financial LP’s holdings in Celanese were worth $101,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CE. UMB Bank n.a. raised its holdings in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 194 shares during the last quarter. CKW Financial Group lifted its position in shares of Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after buying an additional 185 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Celanese by 43.2% in the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after buying an additional 202 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Celanese by 51.1% during the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 382 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Celanese by 81.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,190 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 534 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors.

Celanese Stock Up 0.2 %

Shares of Celanese stock opened at $52.88 on Tuesday. The company’s fifty day simple moving average is $67.95 and its two-hundred day simple moving average is $96.23. Celanese Co. has a 12-month low of $50.82 and a 12-month high of $172.16. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The company has a market cap of $5.78 billion, a P/E ratio of -3.80, a PEG ratio of 1.05 and a beta of 1.17.

Celanese (NYSE:CE) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.20. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. Research analysts anticipate that Celanese Co. will post 8.79 EPS for the current year.

Celanese Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a $0.03 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. Celanese’s dividend payout ratio is currently -0.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup upgraded shares of Celanese to a “neutral” rating and raised their price objective for the stock from $73.00 to $76.00 in a report on Thursday, January 23rd. UBS Group lowered their target price on Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, October 29th. StockNews.com cut Celanese from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Celanese from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Celanese presently has an average rating of “Hold” and an average price target of $78.00.

About Celanese

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.