SG Americas Securities LLC lifted its stake in Celanese Co. (NYSE:CE) by 204.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,055 shares of the basic materials company’s stock after buying an additional 19,503 shares during the period. SG Americas Securities LLC’s holdings in Celanese were worth $2,509,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its position in Celanese by 2,766.7% in the first quarter. Trust Co. of Vermont now owns 430 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 415 shares during the period. Synovus Financial Corp raised its stake in shares of Celanese by 513.7% in the 1st quarter. Synovus Financial Corp now owns 583 shares of the basic materials company’s stock valued at $43,000 after buying an additional 488 shares in the last quarter. Signaturefd LLC raised its stake in shares of Celanese by 31.7% in the 1st quarter. Signaturefd LLC now owns 1,097 shares of the basic materials company’s stock valued at $81,000 after buying an additional 264 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Celanese by 25.7% during the 1st quarter. Parallel Advisors LLC now owns 1,321 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 270 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Celanese by 43.3% during the 1st quarter. Bessemer Group Inc. now owns 1,360 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 411 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on CE. Deutsche Bank raised their price target on shares of Celanese from $95.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday. Vertical Research raised Celanese from a “hold” rating to a “buy” rating in a report on Thursday, March 26th. JPMorgan Chase & Co. lowered Celanese from an “overweight” rating to a “neutral” rating and set a $83.00 price target on the stock. in a research note on Thursday, April 9th. SunTrust Banks lowered their price target on Celanese from $110.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Finally, Bank of America lifted their price objective on Celanese from $100.00 to $104.00 and gave the company a “neutral” rating in a report on Tuesday. Fifteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $100.58.
CE opened at $94.15 on Friday. Celanese Co. has a 1-year low of $52.70 and a 1-year high of $128.88. The stock has a market capitalization of $11.07 billion, a PE ratio of 10.19, a PEG ratio of 5.07 and a beta of 1.37. The company has a current ratio of 1.48, a quick ratio of 0.94 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $89.09 and a two-hundred day moving average price of $91.03.
Celanese (NYSE:CE) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $2.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.10. Celanese had a net margin of 12.08% and a return on equity of 37.21%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the firm earned $2.62 earnings per share. Celanese’s revenue was down 13.5% compared to the same quarter last year. On average, research analysts predict that Celanese Co. will post 6.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Monday, July 27th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $2.48 dividend on an annualized basis and a yield of 2.63%. Celanese’s payout ratio is 26.02%.
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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