Smith Graham & Co. Investment Advisors LP Trims Stock Holdings in Celanese Co. (NYSE:CE)

Smith Graham & Co. Investment Advisors LP decreased its holdings in Celanese Co. (NYSE:CE) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,930 shares of the basic materials company’s stock after selling 2,490 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Celanese were worth $6,245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Alpha LLC purchased a new position in Celanese during the first quarter valued at approximately $27,000. Investors Research Corp purchased a new position in Celanese during the first quarter valued at approximately $41,000. Acima Private Wealth LLC grew its stake in Celanese by 28.6% during the first 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 in the last quarter. Valeo Financial Advisors LLC grew its stake in Celanese by 31.3% during the second quarter. Valeo Financial Advisors LLC now owns 524 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 125 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in Celanese during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Several brokerages recently commented on CE. Zacks Investment Research cut shares of Celanese from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. BMO Capital Markets boosted their price objective on shares of Celanese from $115.00 to $120.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective on shares of Celanese from $120.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Nomura dropped their target price on shares of Celanese from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Robert W. Baird lifted their target price on shares of Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $117.87.

Shares of CE traded up $0.01 during mid-day trading on Friday, reaching $109.15. The company’s stock had a trading volume of 824,372 shares, compared to its average volume of 978,952. The firm has a market capitalization of $13.51 billion, a PE ratio of 9.92, a PEG ratio of 1.04 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.32 and a current ratio of 2.04. Celanese Co. has a 52 week low of $82.91 and a 52 week high of $119.29. The stock’s fifty day moving average price is $107.42.

Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.90 EPS. As a group, sell-side analysts expect that Celanese Co. will post 10.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.27%. Celanese’s payout ratio is 22.55%.

Celanese 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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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