Mutual of America Capital Management LLC Lowers Stock Position in Celanese Co. (NYSE:CE)

Mutual of America Capital Management LLC cut its holdings in shares of Celanese Co. (NYSE:CE) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,077 shares of the basic materials company’s stock after selling 359 shares during the period. Mutual of America Capital Management LLC’s holdings in Celanese were worth $905,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CE. Wellington Management Group LLP raised its holdings in Celanese by 27.4% in the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares in the last quarter. State Street Corp raised its stake in shares of Celanese by 3.1% during the 3rd quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after acquiring an additional 136,994 shares in the last quarter. Geode Capital Management LLC lifted its position in Celanese by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock valued at $353,145,000 after acquiring an additional 177,552 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Celanese by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock valued at $134,723,000 after acquiring an additional 69,606 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Celanese by 608.2% in the third quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after acquiring an additional 592,196 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Trading Up 0.1 %

NYSE CE opened at $55.28 on Monday. Celanese Co. has a 1 year low of $45.94 and a 1 year high of $172.16. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The company has a market capitalization of $6.04 billion, a PE ratio of -3.97, a P/E/G ratio of 1.05 and a beta of 1.23. The company has a fifty day moving average of $65.01 and a 200 day moving average of $91.70.

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

Celanese Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. Celanese’s payout ratio is -0.86%.

Wall Street Analyst Weigh In

CE has been the subject of several analyst reports. Bank of America decreased their price objective on Celanese from $88.00 to $72.00 and set a “buy” rating for the company in a report on Monday, February 24th. UBS Group decreased their price target on Celanese from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Piper Sandler lowered their price target on Celanese from $77.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. Mizuho cut their price objective on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Finally, Jefferies Financial Group lowered their target price on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.31.

Celanese Profile

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.