Public Employees Retirement System of Ohio reduced its holdings in Celanese Co. (NYSE:CE) by 31.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,364 shares of the basic materials company’s stock after selling 26,049 shares during the period. Public Employees Retirement System of Ohio’s holdings in Celanese were worth $6,893,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of CE. Thor Advisors LLC purchased a new stake in Celanese during the 3rd quarter valued at $411,000. Parametric Portfolio Associates LLC boosted its stake in shares of Celanese by 27.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 452,384 shares of the basic materials company’s stock worth $55,322,000 after purchasing an additional 97,168 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Celanese by 5.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 63,026 shares of the basic materials company’s stock worth $7,707,000 after purchasing an additional 3,200 shares during the period. Stifel Financial Corp grew its holdings in Celanese by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 37,143 shares of the basic materials company’s stock valued at $4,537,000 after purchasing an additional 5,692 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in Celanese by 54.8% during the 3rd quarter. Voya Investment Management LLC now owns 556,691 shares of the basic materials company’s stock valued at $68,077,000 after purchasing an additional 197,107 shares during the last quarter. 99.33% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on CE shares. ValuEngine raised shares of Celanese from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. UBS Group upped their target price on Celanese from $128.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group cut Celanese from a “buy” rating to a “neutral” rating and set a $129.00 target price on the stock. in a research note on Tuesday, October 1st. Morgan Stanley increased their price target on Celanese from $102.00 to $124.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on Celanese from $120.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Celanese presently has a consensus rating of “Hold” and a consensus price target of $121.42.
Shares of NYSE CE opened at $124.80 on Tuesday. Celanese Co. has a 52-week low of $82.91 and a 52-week high of $128.88. The firm has a market capitalization of $15.18 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.84 and a beta of 1.36. The stock has a 50 day moving average price of $124.16 and a 200 day moving average price of $113.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 1.85.
Celanese (NYSE:CE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.50 by $0.03. Celanese had a return on equity of 38.21% and a net margin of 13.85%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $2.96 EPS. Celanese’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts forecast that Celanese Co. will post 9.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, October 25th. Celanese’s dividend payout ratio (DPR) is presently 22.55%.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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