Fulton Bank N.A. Sells 1,957 Shares of Celanese Co. (NYSE:CE)

Fulton Bank N.A. reduced its position in shares of Celanese Co. (NYSE:CE) by 15.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,870 shares of the basic materials company’s stock after selling 1,957 shares during the quarter. Fulton Bank N.A.’s holdings in Celanese were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CE. Acadian Asset Management LLC purchased a new stake in Celanese during the second quarter valued at approximately $170,000. PFG Investments LLC purchased a new stake in Celanese during the 2nd quarter valued at $253,000. Choreo LLC lifted its position in Celanese by 76.4% in the second quarter. Choreo LLC now owns 9,916 shares of the basic materials company’s stock worth $1,305,000 after buying an additional 4,295 shares during the last quarter. Royal London Asset Management Ltd. increased its position in Celanese by 7.8% during the second quarter. Royal London Asset Management Ltd. now owns 41,910 shares of the basic materials company’s stock valued at $5,653,000 after acquiring an additional 3,032 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Celanese by 15.0% during the second quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the basic materials company’s stock valued at $1,593,000 after acquiring an additional 1,543 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CE shares. BMO Capital Markets cut shares of Celanese from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $138.00 to $76.00 in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and cut their target price for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Piper Sandler reduced their target price on Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, UBS Group lowered shares of Celanese from a “buy” rating to a “neutral” rating and lowered their target price for the company from $161.00 to $97.00 in a research note on Monday, November 11th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Celanese presently has a consensus rating of “Hold” and an average target price of $109.33.

Celanese Stock Down 2.1 %

Shares of NYSE CE opened at $64.88 on Friday. Celanese Co. has a 12-month low of $64.36 and a 12-month high of $172.16. The stock’s fifty day simple moving average is $75.43 and its two-hundred day simple moving average is $112.27. The stock has a market capitalization of $7.09 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 0.72 and a beta of 1.18. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. Celanese’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 EPS. As a group, analysts expect that Celanese Co. will post 8.38 EPS for the current fiscal year.

Celanese Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.32%. Celanese’s dividend payout ratio (DPR) is presently 28.17%.

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.