Kaizen Advisory LLC Lowers Holdings in Celanese Co. (CE)

Kaizen Advisory LLC lessened its position in shares of Celanese Co. (NYSE:CE) by 19.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,814 shares of the basic materials company’s stock after selling 2,064 shares during the period. Kaizen Advisory LLC’s holdings in Celanese were worth $1,005,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Celanese in the first quarter worth about $403,000. Guggenheim Capital LLC boosted its position in shares of Celanese by 139.4% in the first quarter. Guggenheim Capital LLC now owns 48,226 shares of the basic materials company’s stock worth $4,832,000 after buying an additional 28,078 shares during the period. Principal Financial Group Inc. boosted its position in shares of Celanese by 22.9% in the first quarter. Principal Financial Group Inc. now owns 171,982 shares of the basic materials company’s stock worth $17,234,000 after buying an additional 32,101 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Celanese by 33.7% in the first quarter. Allianz Asset Management GmbH now owns 195,583 shares of the basic materials company’s stock worth $19,599,000 after buying an additional 49,245 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of Celanese by 50.0% in the first quarter. Suntrust Banks Inc. now owns 9,720 shares of the basic materials company’s stock worth $973,000 after buying an additional 3,242 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. Cowen upped their target price on Celanese from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Vertical Research raised Celanese from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, October 17th. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Thursday, October 4th. Barclays upped 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. Finally, ValuEngine downgraded Celanese from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $121.67.

Shares of CE opened at $101.58 on Friday. The stock has a market capitalization of $12.96 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. Celanese Co. has a one year low of $92.68 and a one year high of $119.29. 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 issued its quarterly earnings results 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. 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%. Celanese’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 earnings per share. On average, research analysts anticipate that Celanese Co. will post 11.06 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Monday, October 29th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Friday, October 26th. Celanese’s payout ratio is currently 28.76%.

Celanese 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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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