Adage Capital Partners GP L.L.C. Raises Stock Holdings in Celanese Co. (NYSE:CE)

by · The Cerbat Gem

Adage Capital Partners GP L.L.C. grew its stake in Celanese Co. (NYSE:CE – Free Report) by 38.0% during the 4th quarter, Holdings Channel reports. The fund owned 142,100 shares of the basic materials company’s stock after acquiring an additional 39,100 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Celanese were worth $9,835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dodge & Cox increased its stake in Celanese by 100.3% in the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company’s stock valued at $942,506,000 after purchasing an additional 6,818,993 shares during the last quarter. Norges Bank acquired a new position in Celanese in the fourth quarter valued at $222,815,000. Fuller & Thaler Asset Management Inc. increased its stake in Celanese by 4,506.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,344,661 shares of the basic materials company’s stock valued at $162,274,000 after purchasing an additional 2,293,764 shares during the last quarter. Invesco Ltd. increased its stake in Celanese by 105.0% in the fourth quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company’s stock valued at $274,714,000 after purchasing an additional 2,033,025 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Celanese by 891.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,521,564 shares of the basic materials company’s stock valued at $105,308,000 after purchasing an additional 1,368,104 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Celanese Stock Down 0.3 %

Shares of NYSE:CE opened at $43.56 on Monday. 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 $36.29 and a 12-month high of $169.50. The company has a fifty day simple moving average of $49.50 and a 200 day simple moving average of $70.81. The firm has a market cap of $4.76 billion, a PE ratio of -3.13, a price-to-earnings-growth ratio of 1.05 and a beta of 1.08.

Celanese (NYSE:CE – Get Free Report) last released its earnings results 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. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. On average, equities research analysts anticipate that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, April 28th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.28%. Celanese’s dividend payout ratio (DPR) is presently -0.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Robert W. Baird dropped their target price on Celanese from $110.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft upped their price target on Celanese from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Bank of America dropped their price target on Celanese from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Morgan Stanley dropped their price target on Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com lowered Celanese from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.33.

Read Our Latest Research Report on CE

About Celanese

(Free Report)

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.

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