Picton Mahoney Asset Management Acquires New Position in Celanese Co. (CE)

Picton Mahoney Asset Management acquired a new stake in shares of Celanese Co. (NYSE:CE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,800 shares of the basic materials company’s stock, valued at approximately $433,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in Celanese during the 2nd quarter valued at $100,000. First Bank & Trust boosted its stake in Celanese by 106.4% during the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 563 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Celanese by 875.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock worth $133,000 after buying an additional 1,050 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Celanese by 93.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after buying an additional 699 shares during the last quarter. Finally, Squar Milner Financial Services LLC bought a new position in shares of Celanese in the 2nd quarter worth about $173,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

A number of research firms have recently issued reports on CE. Zacks Investment Research downgraded shares of Celanese from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 24th. Barclays raised their price target on shares of Celanese from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. ValuEngine downgraded shares of Celanese from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Morgan Stanley raised their price target on shares of Celanese from $112.00 to $120.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Celanese from $110.00 to $114.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $121.67.

Shares of NYSE:CE opened at $102.76 on Friday. The stock has a market capitalization of $14.22 billion, a P/E ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.39. Celanese Co. has a fifty-two week low of $92.68 and a fifty-two week high of $119.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.22. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.81 billion. Celanese had a net margin of 18.57% and a return on equity of 39.39%. Celanese’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $1.93 EPS. On average, research analysts expect that Celanese Co. will post 11.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, October 26th. This represents a $2.16 annualized dividend and a yield of 2.10%. Celanese’s dividend payout ratio is presently 28.76%.

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About Celanese

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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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