Celanese (NYSE:CE) had its price objective lifted by Alembic Global Advisors from $155.00 to $200.00 in a report published on Monday morning, Benzinga reports. Alembic Global Advisors currently has an overweight rating on the basic materials company’s stock.
CE has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on shares of Celanese from $165.00 to $183.00 and gave the stock an overweight rating in a report on Monday, May 3rd. Royal Bank of Canada raised their target price on shares of Celanese from $170.00 to $181.00 and gave the stock an outperform rating in a report on Monday, May 3rd. Barclays raised their target price on shares of Celanese from $170.00 to $180.00 and gave the stock an overweight rating in a report on Tuesday, April 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Celanese from $160.00 to $168.00 and gave the stock a hold rating in a report on Monday, May 3rd. Finally, Citigroup cut their price target on Celanese from $152.00 to $144.00 and set a buy rating on the stock in a report on Monday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $156.88.
Shares of CE stock opened at $166.65 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 1.15. Celanese has a one year low of $69.69 and a one year high of $171.00. The company’s 50-day simple moving average is $156.56 and its 200-day simple moving average is $138.31. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.43 and a beta of 1.21.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 10th. Investors of record on Monday, April 26th were paid a dividend of $0.68 per share. The ex-dividend date was Friday, April 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.63%. Celanese’s dividend payout ratio is presently 28.54%.
In related news, Director John K. Wulff sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $153.82, for a total transaction of $922,920.00. Following the transaction, the director now owns 12,421 shares in the company, valued at $1,910,598.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John K. Wulff sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $133.55, for a total transaction of $100,162.50. Following the transaction, the director now owns 17,221 shares in the company, valued at approximately $2,299,864.55. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Denali Advisors LLC acquired a new position in Celanese in the first quarter worth approximately $30,000. E Fund Management Co. Ltd. acquired a new position in Celanese in the first quarter worth approximately $30,000. Vantage Consulting Group Inc acquired a new position in Celanese in the fourth quarter worth approximately $31,000. Solstein Capital LLC acquired a new position in Celanese in the first quarter worth approximately $33,000. Finally, Perigon Wealth Management LLC acquired a new position in Celanese in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 97.51% of the company’s stock.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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