Tyche Wealth Partners LLC Purchases Shares of 2,731 Celanese Co. (NYSE:CE)

Tyche Wealth Partners LLC acquired a new stake in shares of Celanese Co. (NYSE:CE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,731 shares of the basic materials company’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also modified their holdings of CE. Vanguard Group Inc. boosted its position in Celanese by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,722,647 shares of the basic materials company’s stock worth $1,596,947,000 after purchasing an additional 323,862 shares in the last quarter. BlackRock Inc. increased its stake in shares of Celanese by 1.7% in the 1st quarter. BlackRock Inc. now owns 7,774,444 shares of the basic materials company’s stock valued at $846,559,000 after purchasing an additional 131,705 shares in the last quarter. FMR LLC raised its holdings in Celanese by 9.9% in the 3rd quarter. FMR LLC now owns 6,340,305 shares of the basic materials company’s stock worth $795,835,000 after purchasing an additional 570,501 shares during the period. Invesco Ltd. boosted its position in Celanese by 8.2% during the third quarter. Invesco Ltd. now owns 3,022,169 shares of the basic materials company’s stock worth $379,343,000 after purchasing an additional 230,275 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Celanese by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,124,529 shares of the basic materials company’s stock valued at $230,810,000 after purchasing an additional 27,670 shares during the period. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Stock Down 0.5 %

NYSE:CE traded down $0.85 during midday trading on Wednesday, reaching $154.93. The company had a trading volume of 816,012 shares, compared to its average volume of 701,780. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.62 and a beta of 1.36. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 1.63. The stock’s fifty day simple moving average is $157.73 and its 200-day simple moving average is $143.49. Celanese Co. has a 12-month low of $99.33 and a 12-month high of $172.16.

Celanese (NYSE:CE) last announced its quarterly earnings results 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). The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Celanese had a return on equity of 14.61% and a net margin of 17.92%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.44 earnings per share. On average, sell-side analysts anticipate that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 16th. Celanese’s dividend payout ratio (DPR) is currently 15.64%.

Insider Transactions at Celanese

In other news, SVP Thomas Francis Kelly bought 1,400 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $156.69 per share, for a total transaction of $219,366.00. Following the completion of the transaction, the senior vice president now owns 57,023 shares of the company’s stock, valued at $8,934,933.87. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 76,429 shares in the company, valued at approximately $11,987,888.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas Francis Kelly bought 1,400 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $156.69 per share, for a total transaction of $219,366.00. Following the transaction, the senior vice president now directly owns 57,023 shares in the company, valued at approximately $8,934,933.87. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CE. Tudor, Pickering, Holt & Co. lowered Celanese from a “buy” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their target price on shares of Celanese from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. UBS Group raised their price target on shares of Celanese from $169.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Bank of America cut Celanese from a “neutral” rating to an “underperform” rating and increased their target price for the company from $124.00 to $135.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reduced their target price on Celanese from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $149.22.

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.