First Trust Advisors LP lessened its holdings in Celanese Co. (NYSE:CE) by 21.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,158 shares of the basic materials company’s stock after selling 29,975 shares during the period. First Trust Advisors LP owned about 0.09% of Celanese worth $10,961,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisory Alpha LLC purchased a new stake in Celanese in the 1st quarter valued at about $27,000. Prime Capital Investment Advisors LLC bought a new position in shares of Celanese during the 4th quarter valued at approximately $37,000. Investors Research Corp bought a new position in shares of Celanese during the 1st quarter valued at approximately $41,000. Acima Private Wealth LLC grew its position in shares of Celanese by 28.6% during the 1st quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 100 shares during the period. Finally, Icon Wealth Partners LLC bought a new position in shares of Celanese during the 1st quarter valued at approximately $56,000. Institutional investors own 97.33% of the company’s stock.
CE has been the subject of several analyst reports. Alembic Global Advisors raised shares of Celanese from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $95.00 to $115.00 in a report on Monday, April 29th. Cowen reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Monday, July 1st. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Barclays cut their price objective on shares of Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, April 24th. Finally, Vertical Research downgraded shares of Domtar from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $118.00.
Shares of Celanese stock traded up $0.97 on Friday, hitting $107.06. 881,990 shares of the company traded hands, compared to its average volume of 908,577. The company’s 50-day simple moving average is $104.35. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $13.43 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.04 and a beta of 1.42. Celanese Co. has a 12-month low of $82.91 and a 12-month high of $119.29.
Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.13. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company posted $2.79 EPS. Research analysts forecast that Celanese Co. will post 10.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 26th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, July 25th. Celanese’s dividend payout ratio (DPR) is currently 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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