Wellington Shields Capital Management LLC Sells 550 Shares of Celanese Co. (CE)

Wellington Shields Capital Management LLC decreased its stake in shares of Celanese Co. (NYSE:CE) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,250 shares of the basic materials company’s stock after selling 550 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Celanese were worth $472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Celanese by 29.0% in the 4th quarter. BlackRock Inc. now owns 9,467,199 shares of the basic materials company’s stock valued at $851,766,000 after acquiring an additional 2,127,883 shares during the last quarter. Lyrical Asset Management LP increased its holdings in shares of Celanese by 3.6% in the 3rd quarter. Lyrical Asset Management LP now owns 3,470,638 shares of the basic materials company’s stock valued at $395,653,000 after acquiring an additional 122,213 shares during the last quarter. LSV Asset Management increased its holdings in shares of Celanese by 14.2% in the 4th quarter. LSV Asset Management now owns 2,824,214 shares of the basic materials company’s stock valued at $254,094,000 after acquiring an additional 350,175 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Celanese by 30.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,977 shares of the basic materials company’s stock valued at $220,874,000 after acquiring an additional 569,316 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Celanese by 21.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock valued at $237,621,000 after acquiring an additional 369,361 shares during the last quarter. Institutional investors own 98.19% of the company’s stock.

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CE has been the topic of a number of recent analyst reports. SunTrust Banks downgraded Celanese from a “buy” rating to a “hold” rating in a report on Monday, January 14th. Zacks Investment Research downgraded Celanese from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $118.00 price objective on shares of Celanese in a report on Thursday, December 20th. Stifel Nicolaus initiated coverage on Celanese in a report on Monday, December 10th. They issued a “hold” rating and a $100.00 price objective on the stock. Finally, Alembic Global Advisors reiterated a “sell” rating on shares of Celanese in a report on Thursday, December 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Celanese has an average rating of “Hold” and an average price target of $115.24.

Shares of NYSE CE traded up $0.51 during trading hours on Friday, reaching $102.80. The stock had a trading volume of 893,199 shares, compared to its average volume of 1,182,218. The stock has a market cap of $13.17 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. The company has a quick ratio of 1.03, a current ratio of 1.62 and a debt-to-equity ratio of 0.88. Celanese Co. has a fifty-two week low of $82.91 and a fifty-two week high of $119.29.

Celanese (NYSE:CE) last announced its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.02). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.72 billion. Celanese had a net margin of 16.87% and a return on equity of 40.37%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. Sell-side analysts anticipate that Celanese Co. will post 10.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 19th were given a $0.54 dividend. The ex-dividend date was Friday, February 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.10%. Celanese’s dividend payout ratio (DPR) is presently 19.64%.

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Celanese Profile

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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