CIBC Asset Management Inc Has $1.15 Million Stock Holdings in Celanese Co. (NYSE:CE)

CIBC Asset Management Inc increased its holdings in shares of Celanese Co. (NYSE:CE) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,653 shares of the basic materials company’s stock after purchasing an additional 731 shares during the period. CIBC Asset Management Inc’s holdings in Celanese were worth $1,153,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. DT Investment Partners LLC lifted its position in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Celanese by 5.2% during the third quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 111 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in Celanese by 0.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after acquiring an additional 145 shares during the period. Neumann Capital Management LLC increased its stake in Celanese by 5.3% during the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after acquiring an additional 150 shares during the period. Finally, Freedom Investment Management Inc. increased its stake in Celanese by 3.2% during the third quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock valued at $715,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Stock Up 0.3 %

NYSE CE opened at $52.75 on Friday. The firm has a market cap of $5.77 billion, a PE ratio of -3.79, a price-to-earnings-growth ratio of 1.05 and a beta of 1.17. Celanese Co. has a one year low of $51.24 and a one year high of $172.16. The stock’s 50 day simple moving average is $68.25 and its 200 day simple moving average is $96.95. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76.

Celanese (NYSE:CE) last released its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. As a group, sell-side analysts forecast that Celanese Co. will post 8.79 earnings per share for the current fiscal year.

Celanese Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CE. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, October 29th. Wells Fargo & Company lowered their price target on Celanese from $75.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday. Morgan Stanley lowered their price target on Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Barclays lowered their price objective on Celanese from $88.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group lowered their price objective on Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.00.

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.