Forvis Mazars Wealth Advisors LLC Sells 2,217 Shares of Celanese Co. (NYSE:CE)

Forvis Mazars Wealth Advisors LLC trimmed its position in Celanese Co. (NYSE:CE) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,545 shares of the basic materials company’s stock after selling 2,217 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Celanese were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Direct Indexing L.P. raised its holdings in shares of Celanese by 5.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock valued at $308,000 after purchasing an additional 111 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in Celanese by 0.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after buying an additional 145 shares during the last quarter. Neumann Capital Management LLC grew its stake in Celanese by 5.3% in the 3rd quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after buying an additional 150 shares during the last quarter. Freedom Investment Management Inc. grew its stake in Celanese by 3.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock valued at $715,000 after buying an additional 161 shares during the last quarter. Finally, CKW Financial Group grew its stake in Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after buying an additional 185 shares during the last quarter. 98.87% of the stock is owned by institutional investors.

Celanese Trading Up 0.2 %

Shares of CE opened at $52.88 on Tuesday. Celanese Co. has a 52-week low of $50.82 and a 52-week high of $172.16. The business’s fifty day moving average is $67.95 and its 200-day moving average is $96.23. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.34. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of -3.80, a PEG ratio of 1.05 and a beta of 1.17.

Celanese (NYSE:CE) last issued its quarterly earnings results 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. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Equities analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

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

Wall Street Analysts Forecast Growth

CE has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Bank of America decreased their price target on shares of Celanese from $88.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday. Citigroup upgraded shares of Celanese to a “neutral” rating and upped their price target for the company from $73.00 to $76.00 in a research note on Thursday, January 23rd. 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. Finally, Wells Fargo & Company decreased their target price on shares of Celanese from $75.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.00.

Celanese Company 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.