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

CIBC Asset Management Inc boosted its position in shares of Celanese Co. (NYSE:CE) by 4.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,653 shares of the basic materials company’s stock after purchasing an additional 731 shares during the quarter. CIBC Asset Management Inc’s holdings in Celanese were worth $1,153,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CE. DT Investment Partners LLC lifted its stake in shares of Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. UMB Bank n.a. lifted its stake in shares of Celanese by 103.7% in the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 194 shares during the period. CKW Financial Group lifted its stake in shares of Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 185 shares during the period. CENTRAL TRUST Co lifted its stake in shares of Celanese by 43.2% in the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 202 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Celanese by 51.1% in the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 382 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CE shares. Deutsche Bank Aktiengesellschaft cut their price target on Celanese from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday. Robert W. Baird lowered their price objective on shares of Celanese from $110.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday. Citigroup upgraded shares of Celanese to a “neutral” rating and upped their price objective for the company from $73.00 to $76.00 in a research report on Thursday, January 23rd. Royal Bank of Canada cut shares of Celanese from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $84.00 to $56.00 in a research report on Thursday. Finally, 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 research report on Thursday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.00.

Celanese Price Performance

CE stock opened at $52.75 on Friday. The stock has a 50-day moving average price of $68.25 and a two-hundred day moving average price of $96.95. The stock 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. 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 1 year low of $51.24 and a 1 year high of $172.16.

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

Celanese Cuts Dividend

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

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.