Franklin Resources Inc. grew its position in shares of Celanese Co. (NYSE:CE) by 18.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,517,033 shares of the basic materials company’s stock after acquiring an additional 241,519 shares during the quarter. Franklin Resources Inc. owned 1.13% of Celanese worth $172,942,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in Celanese in the 2nd quarter valued at $100,000. First Bank & Trust raised its stake in Celanese by 106.4% in the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 563 shares during the period. Parallel Advisors LLC raised its stake in Celanese by 875.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 1,050 shares during the period. Quantum Capital Management bought a new stake in Celanese in the 2nd quarter valued at $208,000. Finally, Independent Advisor Alliance bought a new stake in Celanese in the 3rd quarter valued at $209,000. 96.46% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on CE. Zacks Investment Research lowered Celanese from a “strong-buy” rating to a “hold” rating in a report on Monday, September 24th. Nomura reduced their target price on Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. ValuEngine lowered Celanese from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Vertical Research raised Celanese from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, October 17th. Finally, Citigroup reduced their target price on Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $121.67.
NYSE:CE opened at $100.93 on Monday. The stock has a market capitalization of $13.50 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.91 and a beta of 1.41. The company has a current ratio of 2.08, a quick ratio of 1.40 and a debt-to-equity ratio of 0.81. Celanese Co. has a twelve month low of $92.68 and a twelve month 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. Celanese had a return on equity of 39.39% and a net margin of 18.57%. Celanese’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. Equities analysts predict that Celanese Co. will post 11.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, October 26th. Celanese’s dividend payout ratio (DPR) is presently 28.76%.
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Celanese Company Profile
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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