First Trust Advisors LP lifted its holdings in Celanese Co. (NYSE:CE) by 119.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 217,960 shares of the basic materials company’s stock after buying an additional 118,828 shares during the quarter. First Trust Advisors LP’s holdings in Celanese were worth $24,847,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CE. New York State Teachers Retirement System acquired a new position in shares of Celanese in the 2nd quarter valued at approximately $100,000. First Bank & Trust boosted its position in Celanese by 106.4% during the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after acquiring an additional 563 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Celanese by 93.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after acquiring an additional 699 shares during the last quarter. Squar Milner Financial Services LLC acquired a new position in Celanese during the 2nd quarter worth approximately $173,000. Finally, Quantum Capital Management acquired a new position in Celanese during the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 96.11% of the company’s stock.
A number of research firms have weighed in on CE. Cowen upped their price target on Celanese from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research report on Tuesday, October 23rd. Barclays reduced their price target on Celanese from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, October 22nd. Robert W. Baird reduced their price target on Celanese from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. Finally, Alembic Global Advisors set a $103.00 price target on Celanese and gave the stock a “sell” rating in a research report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $121.67.
Shares of Celanese stock opened at $101.35 on Tuesday. Celanese Co. has a 12-month low of $92.68 and a 12-month high of $119.29. The company has a market cap of $13.58 billion, a PE ratio of 13.50, a P/E/G ratio of 0.92 and a beta of 1.39. 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 (NYSE:CE) last announced its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.22. Celanese had a return on equity of 39.39% and a net margin of 18.57%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $1.93 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that Celanese Co. will post 11.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Monday, October 29th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, October 26th. Celanese’s dividend payout ratio is currently 28.76%.
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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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