Fmr LLC increased its stake in shares of Celanese Co. (NYSE:CE) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,442,485 shares of the basic materials company’s stock after purchasing an additional 54,265 shares during the quarter. Fmr LLC owned about 1.08% of Celanese worth $164,443,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CE. Standard Life Aberdeen plc lifted its holdings in Celanese by 52.6% in the second quarter. Standard Life Aberdeen plc now owns 2,815,551 shares of the basic materials company’s stock valued at $312,695,000 after buying an additional 969,914 shares during the period. Redwood Investments LLC acquired a new stake in Celanese in the second quarter worth $2,393,000. Dimensional Fund Advisors LP raised its holdings in Celanese by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 744,056 shares of the basic materials company’s stock worth $82,635,000 after purchasing an additional 4,974 shares during the period. Global X Management Co LLC raised its holdings in Celanese by 19.6% in the second quarter. Global X Management Co LLC now owns 12,012 shares of the basic materials company’s stock worth $1,334,000 after purchasing an additional 1,968 shares during the period. Finally, BP PLC raised its holdings in Celanese by 6.3% in the third quarter. BP PLC now owns 17,000 shares of the basic materials company’s stock worth $1,938,000 after purchasing an additional 1,000 shares during the period. 96.46% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on CE. Cowen raised their price objective on shares of Celanese from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 26th. Vertical Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Wednesday, October 17th. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Thursday, October 4th. ValuEngine lowered shares of Celanese from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Citigroup decreased their target price on shares of Celanese from $134.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. Three research 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 company currently has an average rating of “Buy” and a consensus target price of $121.67.
Shares of CE opened at $91.26 on Friday. Celanese Co. has a one year low of $91.20 and a one year high of $119.29. The stock has a market capitalization of $12.84 billion, a PE ratio of 12.15, a PEG ratio of 0.87 and a beta of 1.41. The company has a quick ratio of 1.40, a current ratio of 2.08 and a debt-to-equity ratio of 0.81.
Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.22. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the firm posted $1.93 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts forecast that Celanese Co. will post 11.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Monday, October 29th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, October 26th. Celanese’s dividend payout ratio (DPR) is presently 28.76%.
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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