Prudential Financial Inc. Has $22.67 Million Stake in Celanese Co. (NYSE:CE)

Prudential Financial Inc. boosted its holdings in Celanese Co. (NYSE:CE) by 353.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 327,582 shares of the basic materials company’s stock after acquiring an additional 255,367 shares during the quarter. Prudential Financial Inc. owned 0.30% of Celanese worth $22,672,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 194 shares during the period. CKW Financial Group increased its holdings in Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after buying an additional 185 shares during the last quarter. CENTRAL TRUST Co raised its position in Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 202 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Celanese by 200.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 498 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Celanese during the 3rd quarter valued at approximately $102,000. Institutional investors own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CE. Wells Fargo & Company cut their price objective on Celanese from $75.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Celanese from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets lowered their price objective on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating for the company in a report on Thursday, February 20th. Alembic Global Advisors upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Celanese from $92.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Celanese has a consensus rating of “Hold” and a consensus target price of $66.67.

Celanese Trading Up 0.0 %

NYSE:CE opened at $59.17 on Thursday. The company has a 50-day moving average price of $62.45 and a 200-day moving average price of $85.39. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of -4.25, a P/E/G ratio of 1.05 and a beta of 1.23. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese Co. has a 12 month low of $45.94 and a 12 month high of $172.16.

Celanese (NYSE:CE) last issued its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.25 by $0.20. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Equities analysts predict that Celanese Co. will post 8.79 EPS for the current year.

Celanese Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were paid a $0.03 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 annualized dividend and a yield of 0.20%. Celanese’s payout ratio is -0.86%.

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.