Jacobi Capital Management LLC Purchases New Position in Celanese Co. (NYSE:CE)

Jacobi Capital Management LLC purchased a new stake in shares of Celanese Co. (NYSE:CE – Get Rating) in the 1st quarter, Holdings Channel reports. The fund purchased 3,085 shares of the basic materials company’s stock, valued at approximately $441,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Aptus Capital Advisors LLC bought a new stake in Celanese in the 1st quarter worth approximately $231,000. Kestra Advisory Services LLC grew its position in Celanese by 20.7% in the 1st quarter. Kestra Advisory Services LLC now owns 2,612 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 448 shares during the period. PDT Partners LLC purchased a new position in shares of Celanese during the 4th quarter worth $218,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Celanese by 14.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 34,635 shares of the basic materials company’s stock worth $5,081,000 after acquiring an additional 4,304 shares during the last quarter. Finally, Summit Global Investments boosted its stake in shares of Celanese by 0.6% during the 4th quarter. Summit Global Investments now owns 25,011 shares of the basic materials company’s stock worth $4,203,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 93.81% of the company’s stock.

Celanese Stock Down 0.1 %

Shares of CE stock opened at $110.85 on Friday. The stock has a market cap of $12.01 billion, a P/E ratio of 6.18 and a beta of 1.22. Celanese Co. has a 52 week low of $104.74 and a 52 week high of $176.50. The company has a quick ratio of 1.06, a current ratio of 1.72 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $125.30 and its two-hundred day simple moving average is $139.83.

Celanese (NYSE:CE – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The basic materials company reported $4.99 EPS for the quarter, topping the consensus estimate of $4.56 by $0.43. Celanese had a net margin of 20.55% and a return on equity of 46.75%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the company earned $5.02 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts predict that Celanese Co. will post 18 EPS for the current fiscal year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, July 25th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.45%. Celanese’s dividend payout ratio (DPR) is presently 15.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Celanese from $166.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Piper Sandler lifted their price target on shares of Celanese from $140.00 to $145.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 18th. Wells Fargo & Company dropped their price target on shares of Celanese from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, June 27th. Barclays dropped their price target on shares of Celanese from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Citigroup cut shares of Celanese from a “buy” rating to a “neutral” rating and lowered their target price for the company from $143.00 to $118.00 in a research note on Monday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $161.80.

Celanese Company Profile

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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 three segments: Engineered Materials, Acetate Tow, 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.