PNC Financial Services Group Inc. raised its position in shares of Celanese Co. (NYSE:CE – Free Report) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 461,326 shares of the basic materials company’s stock after acquiring an additional 4,415 shares during the quarter. PNC Financial Services Group Inc. owned about 0.42% of Celanese worth $57,906,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Deutsche Bank AG boosted its position in Celanese by 1.0% during the third quarter. Deutsche Bank AG now owns 187,134 shares of the basic materials company’s stock valued at $23,489,000 after acquiring an additional 1,897 shares during the last quarter. Greenleaf Trust boosted its position in shares of Celanese by 8.9% during the 3rd quarter. Greenleaf Trust now owns 7,083 shares of the basic materials company’s stock worth $889,000 after purchasing an additional 579 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Celanese during the 3rd quarter worth about $99,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Celanese by 15.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,124 shares of the basic materials company’s stock worth $2,526,000 after purchasing an additional 2,669 shares in the last quarter. Finally, Huntington National Bank boosted its position in shares of Celanese by 26.3% during the 3rd quarter. Huntington National Bank now owns 1,866 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.
Celanese Stock Up 2.7 %
Celanese stock opened at $152.16 on Friday. Celanese Co. has a 1-year low of $97.12 and a 1-year high of $159.06. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 4.03 and a beta of 1.36. The company has a current ratio of 1.63, a quick ratio of 0.98 and a debt-to-equity ratio of 1.77. The firm has a 50 day simple moving average of $149.00 and a 200 day simple moving average of $132.73.
Celanese Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, February 16th. Celanese’s payout ratio is 15.09%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on CE shares. UBS Group increased their price objective on shares of Celanese from $169.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Citigroup raised their price target on shares of Celanese from $130.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, December 13th. Bank of America cut shares of Celanese from a “neutral” rating to an “underperform” rating and raised their price target for the company from $124.00 to $135.00 in a research report on Tuesday, January 16th. Piper Sandler raised shares of Celanese from an “underweight” rating to a “neutral” rating and raised their price target for the company from $112.00 to $135.00 in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada dropped their price target on shares of Celanese from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $136.29.
Get Our Latest Stock Analysis on Celanese
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.
Further Reading
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