Copperwynd Financial LLC boosted its holdings in shares of Celanese Corporation (NYSE:CE – Free Report) by 16.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,071 shares of the basic materials company’s stock after purchasing an additional 1,248 shares during the period. Copperwynd Financial LLC’s holdings in Celanese were worth $502,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in Celanese during the 1st quarter valued at $292,000. Teacher Retirement System of Texas acquired a new stake in Celanese during the 1st quarter valued at $907,000. Mather Group LLC. increased its stake in shares of Celanese by 127.0% in the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company’s stock valued at $35,000 after buying an additional 348 shares during the period. Amalgamated Bank increased its stake in shares of Celanese by 55.1% in the 1st quarter. Amalgamated Bank now owns 33,508 shares of the basic materials company’s stock valued at $1,902,000 after buying an additional 11,905 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Celanese by 20.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,225 shares of the basic materials company’s stock valued at $2,397,000 after buying an additional 7,275 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.
Celanese Stock Up 0.0%
NYSE:CE opened at $42.62 on Thursday. Celanese Corporation has a 12-month low of $36.29 and a 12-month high of $137.36. The company has a quick ratio of 1.22, a current ratio of 2.05 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $4.67 billion, a P/E ratio of -2.88, a P/E/G ratio of 1.93 and a beta of 1.13. The stock’s fifty day simple moving average is $45.25 and its 200-day simple moving average is $49.83.
Celanese Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Tuesday, July 29th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, July 29th. This represents a $0.12 annualized dividend and a yield of 0.3%. Celanese’s payout ratio is currently -0.81%.
Wall Street Analyst Weigh In
Several research firms have recently commented on CE. KeyCorp lowered their target price on Celanese from $77.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 13th. Mizuho lifted their target price on Celanese from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Cfra Research raised Celanese to a “moderate sell” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada lowered their target price on Celanese from $63.00 to $45.00 and set a “sector perform” rating for the company in a research note on Thursday, August 14th. Finally, Alembic Global Advisors set a $60.00 target price on Celanese in a research note on Monday, August 25th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.33.
Get Our Latest Research Report on CE
Insiders Place Their Bets
In other Celanese news, Director Timothy Go bought 1,039 shares of Celanese stock in a transaction on Monday, September 8th. The shares were purchased at an average cost of $46.25 per share, for a total transaction of $48,053.75. Following the completion of the acquisition, the director owned 4,415 shares in the company, valued at approximately $204,193.75. The trade was a 30.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.
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