Brown Brothers Harriman & Co. Has $4.43 Million Holdings in Celanese Co. (NYSE:CE)

Brown Brothers Harriman & Co. trimmed its holdings in shares of Celanese Co. (NYSE:CE) by 61.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 63,972 shares of the basic materials company’s stock after selling 102,639 shares during the period. Brown Brothers Harriman & Co.’s holdings in Celanese were worth $4,428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CE. State Street Corp increased its stake in shares of Celanese by 3.1% during the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after purchasing an additional 136,994 shares during the period. Zacks Investment Management grew its holdings in shares of Celanese by 6.5% during the 3rd quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company’s stock valued at $21,814,000 after purchasing an additional 9,782 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Celanese by 5.1% during the 4th quarter. Sanctuary Advisors LLC now owns 7,213 shares of the basic materials company’s stock valued at $521,000 after acquiring an additional 351 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Celanese by 12.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 147,001 shares of the basic materials company’s stock valued at $19,986,000 after buying an additional 16,308 shares during the last quarter. Finally, Twelve Points Wealth Management LLC lifted its holdings in shares of Celanese by 157.8% during the fourth quarter. Twelve Points Wealth Management LLC now owns 10,124 shares of the basic materials company’s stock worth $701,000 after purchasing an additional 6,197 shares during the period. Institutional investors own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Alembic Global Advisors upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and set a $70.00 price target for the company in a report on Monday, March 17th. BMO Capital Markets decreased their price target on Celanese from $73.00 to $46.00 and set an “underperform” rating for the company in a report on Thursday, February 20th. Barclays decreased their price objective on shares of Celanese from $75.00 to $59.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Jefferies Financial Group dropped their price target on Celanese from $102.00 to $82.00 in a report on Thursday, December 5th. Finally, UBS Group cut their price target on shares of Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Celanese has a consensus rating of “Hold” and a consensus price target of $66.94.

Celanese Stock Down 1.9 %

Shares of NYSE:CE opened at $57.14 on Friday. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -4.10, a PEG ratio of 1.05 and a beta of 1.23. Celanese Co. has a one year low of $45.94 and a one year high of $172.10. The firm has a fifty day moving average price of $61.62 and a two-hundred day moving average price of $84.34. 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 announced its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. Celanese’s payout ratio is -0.86%.

Celanese 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.