Pendal Group Ltd cut its stake in Celanese Co. (NYSE:CE) by 66.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,845 shares of the basic materials company’s stock after selling 68,926 shares during the period. Pendal Group Ltd’s holdings in Celanese were worth $3,870,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in shares of Celanese during the fourth quarter valued at $160,000. TLP Group LLC acquired a new position in shares of Celanese during the first quarter valued at $229,000. Parametrica Management Ltd acquired a new position in shares of Celanese during the first quarter valued at $230,000. Jump Trading LLC acquired a new position in shares of Celanese during the first quarter valued at $258,000. Finally, Blair William & Co. IL increased its holdings in shares of Celanese by 33.4% during the first quarter. Blair William & Co. IL now owns 2,884 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 722 shares during the period. 94.11% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Celanese to $138.00 and gave the company a “buy” rating in a report on Monday, June 18th. BMO Capital Markets raised their price target on Celanese from $137.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, June 15th. Citigroup raised their price target on Celanese from $130.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Nomura raised their price target on Celanese from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 11th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $134.00 price target on shares of Celanese in a report on Friday, July 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Celanese presently has a consensus rating of “Buy” and a consensus price target of $120.76.
In related news, EVP Peter G. Edwards sold 3,674 shares of Celanese stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $115.44, for a total transaction of $424,126.56. Following the transaction, the executive vice president now directly owns 12,160 shares of the company’s stock, valued at $1,403,750.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by insiders.
Celanese opened at $113.33 on Friday, MarketBeat Ratings reports. The stock has a market cap of $14.94 billion, a P/E ratio of 11.46, a PEG ratio of 1.29 and a beta of 1.28. Celanese Co. has a 52-week low of $91.15 and a 52-week high of $118.40. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.91.
Celanese (NYSE:CE) last released its earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.50. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Celanese had a return on equity of 38.92% and a net margin of 16.57%. Celanese’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.79 earnings per share. sell-side analysts anticipate that Celanese Co. will post 9.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 6th. Investors of record on Friday, July 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, July 26th. Celanese’s payout ratio is currently 28.76%.
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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