CKW Financial Group Acquires 185 Shares of Celanese Co. (NYSE:CE)

CKW Financial Group increased its holdings in shares of Celanese Co. (NYSE:CE) by 52.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 535 shares of the basic materials company’s stock after acquiring an additional 185 shares during the quarter. CKW Financial Group’s holdings in Celanese were worth $37,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP increased its stake in shares of Celanese by 27.4% during the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Celanese by 608.2% during the third quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after purchasing an additional 592,196 shares during the period. KBC Group NV increased its position in Celanese by 139.8% in the fourth quarter. KBC Group NV now owns 512,253 shares of the basic materials company’s stock worth $35,453,000 after buying an additional 298,596 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Celanese by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock valued at $353,145,000 after buying an additional 177,552 shares during the period. Finally, Gateway Investment Advisers LLC lifted its position in shares of Celanese by 208.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 225,402 shares of the basic materials company’s stock valued at $15,600,000 after buying an additional 152,441 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

NYSE:CE opened at $74.17 on Monday. Celanese Co. has a twelve month low of $64.05 and a twelve month high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock has a market cap of $8.11 billion, a P/E ratio of 7.46, a PEG ratio of 1.46 and a beta of 1.18. The business’s 50-day moving average price is $70.30 and its two-hundred day moving average price is $106.74.

Celanese (NYSE:CE) last announced its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 earnings per share. As a group, equities analysts predict that Celanese Co. will post 8.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on Celanese from $102.00 to $82.00 in a report on Thursday, December 5th. BMO Capital Markets downgraded shares of Celanese from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $138.00 to $76.00 in a research note on Monday, November 11th. Piper Sandler dropped their price target on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $165.00 to $115.00 in a research note on Tuesday, November 5th. Finally, Morgan Stanley dropped their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Celanese has a consensus rating of “Hold” and a consensus price target of $102.82.

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.