Celanese Co. (NYSE:CE) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its holdings in Celanese Co. (NYSE:CE) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,401 shares of the basic materials company’s stock after acquiring an additional 2,305 shares during the quarter. Cullen Frost Bankers Inc. owned 0.07% of Celanese worth $11,870,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Celanese by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock valued at $1,596,947,000 after purchasing an additional 323,862 shares during the period. FMR LLC increased its position in shares of Celanese by 9.9% during the 3rd quarter. FMR LLC now owns 6,340,305 shares of the basic materials company’s stock valued at $795,835,000 after purchasing an additional 570,501 shares during the period. Invesco Ltd. increased its position in shares of Celanese by 8.2% during the 3rd quarter. Invesco Ltd. now owns 3,022,169 shares of the basic materials company’s stock valued at $379,343,000 after purchasing an additional 230,275 shares during the period. Northern Trust Corp increased its position in shares of Celanese by 4.9% during the 3rd quarter. Northern Trust Corp now owns 902,130 shares of the basic materials company’s stock valued at $113,235,000 after purchasing an additional 42,124 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Celanese by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 901,322 shares of the basic materials company’s stock valued at $140,038,000 after purchasing an additional 16,758 shares during the period. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Celanese Trading Up 0.4 %

Shares of Celanese stock traded up $0.59 on Wednesday, hitting $163.32. 740,833 shares of the company’s stock traded hands, compared to its average volume of 690,940. The firm’s 50-day moving average price is $159.90 and its two-hundred day moving average price is $147.35. The stock has a market capitalization of $17.79 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. Celanese Co. has a one year low of $99.33 and a one year high of $172.16. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.95.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). Celanese had a net margin of 17.92% and a return on equity of 14.61%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the company earned $1.44 EPS. Celanese’s quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Celanese Co. will post 11.35 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 29th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, April 26th. Celanese’s payout ratio is presently 15.64%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CE. StockNews.com raised Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Citigroup raised their target price on Celanese from $150.00 to $167.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Alembic Global Advisors cut Celanese from an “overweight” rating to a “neutral” rating and set a $160.00 target price for the company. in a research report on Monday, January 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $160.00 target price (up previously from $135.00) on shares of Celanese in a research report on Thursday, April 4th. Finally, Robert W. Baird raised their target price on Celanese from $135.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $149.56.

Insider Buying and Selling

In related news, SVP Mark Christopher Murray bought 597 shares of Celanese stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $156.43 per share, with a total value of $93,388.71. Following the purchase, the senior vice president now owns 11,600 shares in the company, valued at $1,814,588. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Mark Christopher Murray bought 597 shares of Celanese stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $156.43 per share, with a total value of $93,388.71. Following the purchase, the senior vice president now owns 11,600 shares in the company, valued at $1,814,588. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Thomas Francis Kelly acquired 1,400 shares of Celanese stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $156.69 per share, with a total value of $219,366.00. Following the completion of the purchase, the senior vice president now owns 57,023 shares in the company, valued at $8,934,933.87. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

About Celanese

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.