Curbstone Financial Management Corp Trims Holdings in Celanese Co. (NYSE:CE)


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Curbstone Financial Management Corp decreased its stake in shares of Celanese Co. (NYSE:CE) by 7.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,030 shares of the basic materials company’s stock after selling 1,050 shares during the quarter. Curbstone Financial Management Corp’s holdings in Celanese were worth $2,102,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Calamos Wealth Management LLC purchased a new stake in Celanese in the fourth quarter valued at $5,313,000. Value Holdings Management CO. LLC raised its position in Celanese by 106.4% in the fourth quarter. Value Holdings Management CO. LLC now owns 18,575 shares of the basic materials company’s stock valued at $1,819,000 after purchasing an additional 9,575 shares during the period. Pacer Advisors Inc. raised its position in Celanese by 51.4% in the fourth quarter. Pacer Advisors Inc. now owns 13,550 shares of the basic materials company’s stock valued at $1,761,000 after purchasing an additional 4,602 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in Celanese by 3.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 105,300 shares of the basic materials company’s stock valued at $13,682,000 after purchasing an additional 3,400 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd raised its position in Celanese by 11.5% in the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 55,664 shares of the basic materials company’s stock valued at $7,233,000 after purchasing an additional 5,732 shares during the period. Institutional investors own 97.51% of the company’s stock.

In other news, Director John K. Wulff sold 750 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $133.55, for a total value of $100,162.50. Following the completion of the sale, the director now directly owns 17,221 shares of the company’s stock, valued at approximately $2,299,864.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.

Shares of NYSE:CE traded down $1.82 on Thursday, hitting $149.18. 2,029 shares of the company’s stock were exchanged, compared to its average volume of 877,314. The firm’s 50-day moving average is $145.10 and its 200 day moving average is $130.20. The company has a market capitalization of $17.03 billion, a PE ratio of 31.26, a P/E/G ratio of 2.43 and a beta of 1.21. Celanese Co. has a 1-year low of $69.69 and a 1-year high of $155.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 1.15.

Celanese (NYSE:CE) last released its quarterly earnings data on Wednesday, January 27th. The basic materials company reported $2.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.37. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Celanese had a return on equity of 31.41% and a net margin of 10.46%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 EPS. On average, analysts anticipate that Celanese Co. will post 7.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 23rd. Stockholders of record on Tuesday, February 9th were issued a $0.68 dividend. This is an increase from Celanese’s previous quarterly dividend of $0.62. This represents a $2.72 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Monday, February 8th. Celanese’s payout ratio is presently 28.54%.

Several equities research analysts recently issued reports on CE shares. Citigroup cut their price objective on Celanese from $152.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, February 1st. Barclays boosted their price objective on Celanese from $145.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Celanese from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, March 31st. Wells Fargo & Company boosted their price objective on Celanese from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, March 24th. Finally, Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Tuesday, March 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $130.74.

About Celanese

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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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