Westpac Banking Corp Purchased 398 Shares of Celanese Co. (CE)

Westpac Banking Corp Purchased 398 Shares of Celanese Co. (CE)

Westpac Banking Corp increased its position in Celanese Co. (NYSE:CE) by 0.5% during the first quarter, Holdings Channel reports. The institutional investor owned 83,587 shares of the basic materials company’s stock after buying an additional 398 shares during the period. Westpac Banking Corp’s holdings in Celanese were worth $7,351,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Seven Eight Capital LP bought a new stake in Celanese during the fourth quarter worth $554,000. Zurich Insurance Group Ltd FI bought a new stake in Celanese during the fourth quarter worth $119,000. Fulton Bank N.A. bought a new stake in Celanese during the first quarter worth $474,000. TradeLink Capital LLC raised its stake in Celanese by 4.2% in the third quarter. TradeLink Capital LLC now owns 3,296 shares of the basic materials company’s stock worth $219,000 after buying an additional 133 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Celanese by 46.1% in the fourth quarter. Renaissance Technologies LLC now owns 608,700 shares of the basic materials company’s stock worth $47,929,000 after buying an additional 192,200 shares in the last quarter. Institutional investors own 98.08% of the company’s stock.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, April 17th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.09. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Celanese had a net margin of 16.70% and a return on equity of 31.09%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Monday, May 1st were given a dividend of $0.46 per share. This is a boost from Celanese’s previous quarterly dividend of $0.36. This represents a $1.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, April 27th. Celanese’s payout ratio is 23.38%.

CE has been the subject of a number of analyst reports. Barclays PLC upped their target price on Celanese from $85.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Cowen and Company upped their target price on Celanese from $88.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Zacks Investment Research lowered Celanese from a “buy” rating to a “hold” rating in a report on Friday, March 17th. Robert W. Baird initiated coverage on Celanese in a report on Friday, February 17th. They set an “outperform” rating and a $105.00 target price for the company. Finally, Citigroup Inc upgraded Celanese from a “neutral” rating to a “buy” rating in a report on Thursday, February 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.99.

Celanese Company Profile

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Co. (NYSE:CE).

Related posts

Leave a Comment