Tokio Marine Asset Management Co. Ltd. Buys 96 Shares of Celanese Co. (NYSE:CE)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Celanese Co. (NYSE:CE) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,379 shares of the basic materials company’s stock after acquiring an additional 96 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Celanese were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Atria Wealth Solutions Inc. bought a new stake in Celanese in the fourth quarter worth approximately $274,000. Yousif Capital Management LLC increased its holdings in Celanese by 64.1% in the fourth quarter. Yousif Capital Management LLC now owns 21,492 shares of the basic materials company’s stock worth $3,339,000 after purchasing an additional 8,398 shares in the last quarter. Weatherly Asset Management L. P. increased its holdings in Celanese by 66.4% in the fourth quarter. Weatherly Asset Management L. P. now owns 8,658 shares of the basic materials company’s stock worth $1,345,000 after purchasing an additional 3,455 shares in the last quarter. GAMMA Investing LLC bought a new stake in Celanese in the fourth quarter worth approximately $172,000. Finally, OLD National Bancorp IN acquired a new stake in Celanese in the fourth quarter valued at approximately $241,000. 98.87% of the stock is currently owned by institutional investors.

Insider Activity at Celanese

In related news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total transaction of $313,700.00. Following the sale, the chief operating officer now directly owns 76,429 shares in the company, valued at approximately $11,987,888.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Celanese news, SVP Thomas Francis Kelly bought 1,400 shares of Celanese stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the transaction, the senior vice president now directly owns 57,023 shares in the company, valued at $8,934,933.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $156.85, for a total value of $313,700.00. Following the transaction, the chief operating officer now owns 76,429 shares of the company’s stock, valued at $11,987,888.65. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Celanese Stock Performance

Shares of CE opened at $154.49 on Friday. The firm has a market cap of $16.83 billion, a PE ratio of 8.63, a PEG ratio of 0.61 and a beta of 1.36. The stock’s fifty day moving average price is $158.59 and its two-hundred day moving average price is $145.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.95. Celanese Co. has a 1 year low of $99.33 and a 1 year high of $172.16.

Celanese (NYSE:CE) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). Celanese had a net margin of 17.92% and a return on equity of 14.61%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Celanese Co. will post 11.35 EPS for the current year.

Celanese Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, April 29th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. Celanese’s payout ratio is 15.64%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Robert W. Baird raised their price objective on Celanese from $135.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. StockNews.com raised Celanese from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada lifted their target price on Celanese from $165.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Piper Sandler raised Celanese from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $135.00 to $170.00 in a research report on Monday, February 26th. Finally, UBS Group lifted their target price on Celanese from $169.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Celanese presently has an average rating of “Hold” and an average price target of $149.56.

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.