abrdn plc lessened its position in Celanese Co. (NYSE:CE – Get Rating) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,900 shares of the basic materials company’s stock after selling 1,131 shares during the quarter. abrdn plc’s holdings in Celanese were worth $3,057,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Private Portfolio Partners LLC lifted its holdings in shares of Celanese by 1.9% in the 1st quarter. Private Portfolio Partners LLC now owns 4,008 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 75 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Celanese by 9.2% in the 1st quarter. Belpointe Asset Management LLC now owns 901 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 76 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Celanese by 0.3% in the 1st quarter. Summit Global Investments now owns 25,089 shares of the basic materials company’s stock worth $3,584,000 after acquiring an additional 78 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of Celanese by 1.6% in the 1st quarter. Waldron Private Wealth LLC now owns 5,368 shares of the basic materials company’s stock worth $766,000 after acquiring an additional 83 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in Celanese by 4.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,200 shares of the basic materials company’s stock valued at $314,000 after buying an additional 87 shares in the last quarter. Institutional investors own 93.34% of the company’s stock.
Celanese Stock Up 0.5 %
NYSE:CE opened at $92.40 on Tuesday. The company has a market cap of $10.01 billion, a PE ratio of 6.11 and a beta of 1.25. Celanese Co. has a twelve month low of $86.71 and a twelve month high of $176.50. The company has a current ratio of 1.72, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $98.03 and its two-hundred day moving average is $118.60.
Celanese (NYSE:CE – Get Rating) last released its earnings results on Thursday, November 3rd. The basic materials company reported $3.94 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.04). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Celanese had a return on equity of 43.10% and a net margin of 17.20%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.82 EPS. Analysts anticipate that Celanese Co. will post 17.46 EPS for the current year.
Celanese Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.03%. This is a boost from Celanese’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 28th. Celanese’s payout ratio is presently 18.51%.
Analysts Set New Price Targets
CE has been the subject of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Celanese from $172.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, October 12th. Piper Sandler decreased their price objective on shares of Celanese from $120.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, October 10th. Citigroup decreased their price objective on shares of Celanese from $102.00 to $96.00 and set a “neutral” rating for the company in a report on Sunday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Celanese from $140.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 3rd. Finally, TheStreet downgraded shares of Celanese from a “b-” rating to a “c+” rating in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $119.31.
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 three segments: Engineered Materials, Acetate Tow, and Acetyl Chain. 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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