Marshall Wace LLP Acquires 140,598 Shares of Celanese Co. (CE)

Marshall Wace LLP grew its holdings in Celanese Co. (NYSE:CE) by 145.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,572 shares of the basic materials company’s stock after purchasing an additional 140,598 shares during the quarter. Marshall Wace LLP owned 0.18% of Celanese worth $27,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Standard Life Aberdeen plc raised 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 acquiring an additional 969,914 shares in the last quarter. Millennium Management LLC raised its holdings in Celanese by 76.2% in the second quarter. Millennium Management LLC now owns 2,005,758 shares of the basic materials company’s stock valued at $222,759,000 after acquiring an additional 867,269 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Celanese by 353.3% in the second quarter. PNC Financial Services Group Inc. now owns 984,690 shares of the basic materials company’s stock valued at $109,359,000 after acquiring an additional 767,484 shares in the last quarter. Deutsche Bank AG raised its holdings in Celanese by 105.7% in the third quarter. Deutsche Bank AG now owns 944,890 shares of the basic materials company’s stock valued at $107,712,000 after acquiring an additional 485,564 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Celanese in the third quarter valued at approximately $45,572,000. 96.46% of the stock is owned by institutional investors and hedge funds.

CE has been the topic of several analyst reports. Zacks Investment Research cut shares of Celanese from a “strong-buy” rating to a “hold” rating in a report on Monday, September 24th. Nomura reduced their target price on shares of Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. Vertical Research raised shares of 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. 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. Finally, Citigroup cut their price objective on shares of Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $121.67.

CE stock opened at $91.26 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08. Celanese Co. has a twelve month low of $91.20 and a twelve month high of $119.29. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 0.85 and a beta of 1.41.

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, topping analysts’ consensus estimates of $2.74 by $0.22. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $1.93 earnings per share. As a group, analysts predict that Celanese Co. will post 11.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.37%. Celanese’s payout ratio is 28.76%.

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About Celanese

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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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