Mackenzie Financial Corp Sells 1,041 Shares of Celanese Co. (NYSE:CE)

Mackenzie Financial Corp cut its holdings in Celanese Co. (NYSE:CE) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,683 shares of the basic materials company’s stock after selling 1,041 shares during the period. Mackenzie Financial Corp owned 0.06% of Celanese worth $9,428,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Celanese by 92.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 87 shares in the last quarter. Certified Advisory Corp bought a new stake in shares of Celanese during the 1st quarter valued at $27,000. EverSource Wealth Advisors LLC raised its position in shares of Celanese by 83.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 103 shares during the last quarter. Asset Dedication LLC increased its position in shares of Celanese by 180.0% in the 3rd quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after buying an additional 144 shares in the last quarter. Finally, Provence Wealth Management Group bought a new stake in shares of Celanese in the 3rd quarter valued at $32,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Thomas Francis Kelly bought 1,400 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased 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 directly owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Thomas Francis Kelly bought 1,400 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased 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 directly owns 57,023 shares of the company’s stock, valued at approximately $8,934,933.87. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Christopher Murray bought 597 shares of the business’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $156.43 per share, for a total transaction of $93,388.71. Following the transaction, the senior vice president now directly owns 11,600 shares of the company’s stock, valued at $1,814,588. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Celanese Stock Performance

NYSE CE opened at $154.45 on Friday. 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 firm has a market capitalization of $16.82 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 0.61 and a beta of 1.36. The firm’s 50 day simple moving average is $158.06 and its 200 day simple moving average is $143.87. Celanese Co. has a 1 year low of $99.33 and a 1 year high of $172.16.

Celanese (NYSE:CE) last posted its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.05). The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.59 billion. Celanese had a return on equity of 14.61% and a net margin of 17.92%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. As a group, research analysts expect that Celanese Co. will post 11.47 earnings per share for the current fiscal year.

Celanese Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CE. Royal Bank of Canada upped their target price on shares of Celanese from $165.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group upped their target price on shares of Celanese from $169.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Barclays cut shares of Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 target price on the stock. in a report on Thursday, April 4th. KeyCorp upped their target price on shares of Celanese from $176.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, StockNews.com raised shares of Celanese from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Celanese presently has an average rating of “Hold” and a consensus price target of $149.56.

Celanese 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.