Cibc World Markets Corp Buys 44,419 Shares of Celanese Co. (NYSE:CE)

Cibc World Markets Corp raised its stake in Celanese Co. (NYSE:CE) by 300.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,212 shares of the basic materials company’s stock after acquiring an additional 44,419 shares during the quarter. Cibc World Markets Corp’s holdings in Celanese were worth $4,098,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of Celanese by 103.7% during the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares in the last quarter. CKW Financial Group grew 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 purchasing an additional 185 shares in the last quarter. CENTRAL TRUST Co grew its position in shares of Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 202 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Celanese by 200.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 498 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Celanese during the 3rd quarter worth approximately $102,000. 98.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CE has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 20th. Mizuho reduced their price target on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. BMO Capital Markets reduced their price target on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group reduced their price target on shares of Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Finally, Royal Bank of Canada lowered shares of Celanese from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $84.00 to $56.00 in a research report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.18.

Celanese Price Performance

CE stock opened at $57.26 on Thursday. The company has a fifty day moving average price of $63.31 and a 200-day moving average price of $87.72. The company has a market capitalization of $6.26 billion, a P/E ratio of -4.11, a PEG ratio of 1.05 and a beta of 1.23. Celanese Co. has a 52-week low of $45.94 and a 52-week high of $172.16. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34.

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

Celanese Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date was Tuesday, February 25th. Celanese’s dividend payout ratio is presently -0.86%.

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.