Pendal Group Ltd trimmed its holdings in shares of Celanese Co. (NYSE:CE) by 60.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,616 shares of the basic materials company’s stock after selling 21,229 shares during the quarter. Pendal Group Ltd’s holdings in Celanese were worth $1,552,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in CE. New York State Teachers Retirement System bought a new stake in shares of Celanese during the second quarter worth $100,000. First Bank & Trust lifted its position in shares of Celanese by 106.4% during the third quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 563 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Celanese by 875.0% during the third quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,050 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Celanese by 93.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 699 shares during the last quarter. Finally, Squar Milner Financial Services LLC bought a new stake in shares of Celanese during the second quarter worth $173,000. Institutional investors and hedge funds own 96.11% of the company’s stock.
CE stock opened at $102.76 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.08 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $14.22 billion, a P/E ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.39. Celanese Co. has a 1-year low of $92.68 and a 1-year high of $119.29.
Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.22. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.81 billion. Celanese had a return on equity of 39.39% and a net margin of 18.57%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 earnings per share. On average, sell-side analysts anticipate that Celanese Co. will post 11.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, October 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.10%. Celanese’s payout ratio is currently 28.76%.
Several research firms have recently weighed in on CE. Citigroup lifted their target price on Celanese from $131.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. KeyCorp lifted their target price on Celanese from $141.00 to $145.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Barclays lifted their target price on Celanese from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. lifted their target price on Celanese from $110.00 to $114.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Finally, Alembic Global Advisors set a $103.00 target price on Celanese and gave the stock a “sell” rating in a research report on Thursday, October 18th. Three analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Celanese currently has a consensus rating of “Buy” and a consensus target price of $121.67.
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Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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