Tyche Wealth Partners LLC Makes New $424,000 Investment in Celanese Co. (NYSE:CE)

Tyche Wealth Partners LLC bought a new position in Celanese Co. (NYSE:CE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,731 shares of the basic materials company’s stock, valued at approximately $424,000.

A number of other large investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust increased its stake in shares of Celanese by 92.6% in the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Certified Advisory Corp acquired a new stake in shares of Celanese in the first quarter valued at approximately $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Celanese by 83.7% in the third quarter. EverSource Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 103 shares during the period. Asset Dedication LLC increased its stake in shares of Celanese by 180.0% during the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 144 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its stake in shares of Celanese by 142.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Institutional investors own 98.87% of the company’s stock.

Insider Buying and Selling

In related news, SVP Mark Christopher Murray acquired 597 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $156.43 per share, for a total transaction of $93,388.71. Following the completion of the acquisition, the senior vice president now directly owns 11,600 shares in the company, valued at approximately $1,814,588. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Celanese news, SVP Thomas Francis Kelly bought 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $156.69 per share, with a total value of $219,366.00. Following the completion of the transaction, the senior vice president now owns 57,023 shares in the company, valued at $8,934,933.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Christopher Murray bought 597 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of $156.43 per share, with a total value of $93,388.71. Following the transaction, the senior vice president now owns 11,600 shares of the company’s stock, valued at approximately $1,814,588. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CE. KeyCorp raised their price objective on shares of Celanese from $176.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Robert W. Baird raised their target price on shares of Celanese from $135.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Barclays cut shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 target price for the company. in a report on Thursday, April 4th. Royal Bank of Canada reduced their price target on shares of Celanese from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Finally, Wells Fargo & Company boosted their price target on shares of Celanese from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $149.22.

Celanese Trading Down 0.5 %

CE traded down $0.85 during mid-day trading on Wednesday, hitting $154.93. The stock had a trading volume of 816,012 shares, compared to its average volume of 701,780. The stock’s fifty day simple moving average is $157.73 and its 200-day simple moving average is $143.49. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.95. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.62 and a beta of 1.36. Celanese Co. has a 1-year low of $99.33 and a 1-year high of $172.16.

Celanese (NYSE:CE) last posted its earnings results on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.05). The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.59 billion. Celanese had a return on equity of 14.61% and a net margin of 17.92%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. As a group, research analysts forecast that Celanese Co. will post 11.47 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. Celanese’s payout ratio is 15.64%.

About Celanese

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.