Headlands Technologies LLC Acquires 2,502 Shares of Celanese Co. (NYSE:CE)

Headlands Technologies LLC raised its holdings in Celanese Co. (NYSE:CE) by 630.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,899 shares of the basic materials company’s stock after buying an additional 2,502 shares during the period. Headlands Technologies LLC’s holdings in Celanese were worth $201,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in 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 acquiring an additional 194 shares during the period. CKW Financial Group raised its position in shares of Celanese by 52.9% in the fourth 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% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock worth $46,000 after buying an additional 202 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Celanese by 200.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $52,000 after buying an additional 498 shares during the period. Finally, Brooklyn Investment Group grew its stake in 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 buying an additional 382 shares during the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Stock Down 13.5 %

Shares of NYSE CE opened at $40.83 on Friday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -2.93, a PEG 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 $39.62 and a 12 month high of $169.50. The stock has a 50-day moving average price of $59.42 and a two-hundred day moving average price of $82.15.

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

Celanese Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.12 dividend on an annualized basis and a yield of 0.29%. Celanese’s dividend payout ratio is currently -0.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Celanese from $110.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. UBS Group decreased their price objective on Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Morgan Stanley dropped their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. KeyCorp upgraded shares of Celanese from a “sector weight” rating to an “overweight” rating and set a $76.00 price target on the stock in a research note on Friday, March 21st. Finally, Bank of America dropped their price objective on shares of Celanese from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.61.

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.