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

Fulton Bank N.A. lowered its stake in Celanese Co. (NYSE:CE) by 15.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,870 shares of the basic materials company’s stock after selling 1,957 shares during the period. Fulton Bank N.A.’s holdings in Celanese were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Celanese by 27.4% in the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Celanese by 608.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock worth $93,754,000 after buying an additional 592,196 shares in the last quarter. LPL Financial LLC raised its position in Celanese by 528.9% in the 2nd quarter. LPL Financial LLC now owns 260,523 shares of the basic materials company’s stock worth $35,142,000 after buying an additional 219,095 shares during the last quarter. Geode Capital Management LLC lifted its stake in Celanese by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock valued at $353,145,000 after acquiring an additional 177,552 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Celanese by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,161,298 shares of the basic materials company’s stock valued at $156,663,000 after acquiring an additional 150,201 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CE shares. Morgan Stanley lowered their price objective on shares of Celanese from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upgraded Celanese from a “hold” rating to a “buy” rating and dropped their price target for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Vertical Research cut Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, October 29th. Piper Sandler dropped their target price on Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, Citigroup reduced their price target on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Celanese currently has a consensus rating of “Hold” and an average target price of $109.33.

Celanese Stock Performance

NYSE CE opened at $64.88 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. Celanese Co. has a twelve month low of $64.36 and a twelve month high of $172.16. The business has a 50-day moving average price of $75.43 and a 200-day moving average price of $112.27. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 6.53, a price-to-earnings-growth ratio of 0.72 and a beta of 1.18.

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

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, October 30th. Celanese’s payout ratio is currently 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.