GAMMA Investing LLC Has $225,000 Stake in Celanese Co. (NYSE:CE)

GAMMA Investing LLC grew its stake in shares of Celanese Co. (NYSE:CE) by 11.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,308 shares of the basic materials company’s stock after purchasing an additional 133 shares during the period. GAMMA Investing LLC’s holdings in Celanese were worth $225,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors raised its position in Celanese by 3.3% in the 4th quarter. Capital Research Global Investors now owns 14,809,178 shares of the basic materials company’s stock valued at $2,300,907,000 after buying an additional 468,003 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Celanese by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 13,077,014 shares of the basic materials company’s stock valued at $2,031,776,000 after purchasing an additional 354,367 shares during the last quarter. Capital International Investors lifted its position in shares of Celanese by 3.0% during the fourth quarter. Capital International Investors now owns 11,337,115 shares of the basic materials company’s stock valued at $1,761,567,000 after purchasing an additional 329,740 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Celanese by 18.0% during the fourth quarter. Wellington Management Group LLP now owns 8,529,064 shares of the basic materials company’s stock worth $1,325,161,000 after purchasing an additional 1,302,758 shares during the last quarter. Finally, Capital World Investors grew its position in Celanese by 43.2% in the 4th quarter. Capital World Investors now owns 6,137,688 shares of the basic materials company’s stock worth $953,653,000 after purchasing an additional 1,852,099 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.

Celanese Stock Down 0.8 %

CE stock opened at $138.02 on Friday. Celanese Co. has a twelve month low of $105.15 and a twelve month high of $172.16. The firm has a market capitalization of $15.07 billion, a PE ratio of 7.60, a PEG ratio of 0.56 and a beta of 1.34. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The stock has a 50-day simple moving average of $152.27 and a two-hundred day simple moving average of $152.80.

Celanese (NYSE:CE) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.91 by $0.17. Celanese had a net margin of 18.60% and a return on equity of 14.00%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the company earned $2.01 earnings per share. Celanese’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts predict that Celanese Co. will post 11.39 EPS for the current fiscal year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, April 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, April 26th. Celanese’s payout ratio is 15.41%.

Analysts Set New Price Targets

Several equities analysts have commented on CE shares. BMO Capital Markets reissued a “market perform” rating and set a $158.00 target price on shares of Celanese in a research report on Tuesday, June 11th. Piper Sandler upped their price objective on Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Tudor, Pickering, Holt & Co. cut Celanese from a “buy” rating to a “sell” rating and set a $140.00 target price on the stock. in a research note on Thursday, February 22nd. Bank of America reduced their price target on shares of Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a research report on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on shares of Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $161.41.

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.