White Knight Strategic Wealth Advisors LLC Acquires New Position in Celanese Co. (NYSE:CE)

White Knight Strategic Wealth Advisors LLC acquired a new stake in Celanese Co. (NYSE:CE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,740 shares of the basic materials company’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC raised its position in Celanese by 14.0% during the 3rd quarter. Barclays PLC now owns 281,709 shares of the basic materials company’s stock worth $38,300,000 after buying an additional 34,658 shares during the last quarter. HB Wealth Management LLC raised its position in Celanese by 35.0% during the 4th quarter. HB Wealth Management LLC now owns 3,041 shares of the basic materials company’s stock worth $210,000 after buying an additional 789 shares during the last quarter. UMB Bank n.a. raised its position in Celanese by 103.7% during the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after buying an additional 194 shares during the last quarter. SG Americas Securities LLC raised its position in Celanese by 23.1% during the 4th quarter. SG Americas Securities LLC now owns 6,146 shares of the basic materials company’s stock worth $425,000 after buying an additional 1,152 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Celanese by 81.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,190 shares of the basic materials company’s stock worth $82,000 after buying an additional 534 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Trading Up 2.3%

Shares of CE opened at $53.70 on Wednesday. Celanese Co. has a 52-week low of $36.29 and a 52-week high of $156.50. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The firm’s fifty day moving average is $48.41 and its two-hundred day moving average is $61.59. The stock has a market cap of $5.87 billion, a PE ratio of -3.85, a price-to-earnings-growth ratio of 1.05 and a beta of 1.09.

Celanese (NYSE:CE) last announced its earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Research analysts forecast that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, April 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. Celanese’s dividend payout ratio is presently -0.79%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CE shares. Wells Fargo & Company raised their price target on shares of Celanese from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. KeyCorp raised their price objective on shares of Celanese from $71.00 to $76.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Royal Bank of Canada cut shares of Celanese from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $84.00 to $56.00 in a research note on Thursday, February 20th. Piper Sandler reaffirmed an “underweight” rating and set a $48.00 price objective (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Finally, Citigroup dropped their price objective on shares of Celanese from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.94.

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.