Pacer Advisors Inc. increased its position in Celanese Co. (NYSE:CE) by 8.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,328 shares of the basic materials company’s stock after acquiring an additional 2,394 shares during the period. Pacer Advisors Inc.’s holdings in Celanese were worth $2,532,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CE. Wellington Management Group LLP grew its holdings in shares of Celanese by 14.2% in the first quarter. Wellington Management Group LLP now owns 9,675,863 shares of the basic materials company’s stock worth $710,112,000 after acquiring an additional 1,204,200 shares during the period. Norges Bank bought a new stake in Celanese during the fourth quarter valued at about $121,772,000. Capital International Investors grew its holdings in Celanese by 7.7% during the first quarter. Capital International Investors now owns 7,642,542 shares of the basic materials company’s stock valued at $560,886,000 after purchasing an additional 548,661 shares during the period. Wells Fargo & Company MN grew its holdings in Celanese by 14.3% during the first quarter. Wells Fargo & Company MN now owns 3,124,745 shares of the basic materials company’s stock valued at $229,324,000 after purchasing an additional 390,262 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Celanese by 57.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 801,628 shares of the basic materials company’s stock valued at $58,831,000 after purchasing an additional 291,450 shares during the period. 94.12% of the stock is owned by institutional investors.
NYSE:CE opened at $97.20 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.94 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $11.49 billion, a P/E ratio of 11.99, a P/E/G ratio of 5.28 and a beta of 1.37. Celanese Co. has a 12 month low of $52.70 and a 12 month high of $128.88. The business’s 50-day moving average is $88.67 and its 200 day moving average is $90.07.
Celanese (NYSE:CE) last posted its earnings results on Tuesday, July 28th. The basic materials company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.25. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.08 billion. Celanese had a return on equity of 33.49% and a net margin of 11.13%. The firm’s revenue for the quarter was down 25.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 earnings per share. On average, research analysts forecast that Celanese Co. will post 6.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 27th will be given a $0.62 dividend. The ex-dividend date is Friday, July 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.55%. Celanese’s dividend payout ratio is currently 26.02%.
Several analysts have issued reports on the company. BMO Capital Markets cut their price target on Celanese from $100.00 to $92.00 and set a “market perform” rating for the company in a report on Thursday, April 30th. Alembic Global Advisors raised Celanese from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Monday, July 27th. UBS Group boosted their price target on Celanese from $88.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Deutsche Bank boosted their price target on Celanese from $100.00 to $105.00 and gave the company a “hold” rating in a report on Thursday. Finally, Cfra boosted their price target on Celanese from $81.00 to $86.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $105.95.
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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