Celanese Co. (NYSE:CE) Shares Bought by Oakbrook Investments LLC
Oakbrook Investments LLC boosted its holdings in shares of Celanese Co. (NYSE:CE) by 78.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,150 shares of the basic materials company’s stock after buying an additional 5,355 shares during the quarter. Oakbrook Investments LLC’s holdings in Celanese were worth $1,310,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CE. Dimensional Fund Advisors LP boosted its position in shares of Celanese by 22.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 937,919 shares of the basic materials company’s stock worth $84,386,000 after buying an additional 171,049 shares during the period. Geode Capital Management LLC boosted its position in shares of Celanese by 61.5% during the fourth quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock worth $163,756,000 after buying an additional 694,491 shares during the period. First Allied Advisory Services Inc. boosted its position in shares of Celanese by 98.4% during the fourth quarter. First Allied Advisory Services Inc. now owns 5,925 shares of the basic materials company’s stock worth $538,000 after buying an additional 2,938 shares during the period. Macquarie Group Ltd. boosted its position in shares of Celanese by 0.4% during the fourth quarter. Macquarie Group Ltd. now owns 155,877 shares of the basic materials company’s stock worth $14,025,000 after buying an additional 610 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Celanese by 8.0% during the fourth quarter. Amalgamated Bank now owns 18,726 shares of the basic materials company’s stock worth $1,685,000 after buying an additional 1,385 shares during the period. 97.35% of the stock is owned by institutional investors.
Celanese stock traded down $0.35 during midday trading on Friday, reaching $111.16. The company’s stock had a trading volume of 683,427 shares, compared to its average volume of 964,724. Celanese Co. has a fifty-two week low of $82.91 and a fifty-two week high of $119.29. The company has a current ratio of 2.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The stock has a market cap of $14.07 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.08 and a beta of 1.42. The stock’s 50-day moving average is $105.97.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 26th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, July 25th. Celanese’s dividend payout ratio (DPR) is currently 22.55%.
CE has been the subject of several research analyst reports. Citigroup set a $12.00 price target on Controladora Vuela Co Avcn SA CV and gave the stock a “buy” rating in a research report on Monday, July 15th. Vertical Research lowered Domtar from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday. ValuEngine lowered Welbilt from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Finally, Alembic Global Advisors upgraded Celanese from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $95.00 to $115.00 in a report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $117.87.
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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