BlackRock Inc. Cuts Stock Holdings in Celanese Co. (NYSE:CE)

BlackRock Inc. lowered its stake in Celanese Co. (NYSE:CE) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,768,359 shares of the basic materials company’s stock after selling 67,490 shares during the quarter. BlackRock Inc. owned 7.14% of Celanese worth $1,170,226,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in Celanese in the third quarter worth approximately $36,000. Herold Advisors Inc. purchased a new stake in Celanese in the third quarter worth approximately $36,000. Carolinas Wealth Consulting LLC boosted its holdings in Celanese by 111.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 247 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 130 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Celanese by 33.6% in the third quarter. TCI Wealth Advisors Inc. now owns 326 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 82 shares during the last quarter. Finally, Berman Capital Advisors LLC boosted its holdings in Celanese by 35.4% in the third quarter. Berman Capital Advisors LLC now owns 413 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

In other Celanese news, SVP Vanessa Dupuis sold 512 shares of Celanese stock in a transaction on Friday, November 5th. The shares were sold at an average price of $170.00, for a total value of $87,040.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Celanese from $188.00 to $198.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 26th. JPMorgan Chase & Co. lifted their price target on shares of Celanese from $175.00 to $195.00 and gave the stock an “overweight” rating in a research note on Monday, October 25th. Morgan Stanley lifted their price target on shares of Celanese from $157.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group dropped their price target on shares of Celanese from $197.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 15th. Finally, KeyCorp lifted their price target on shares of Celanese from $180.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, October 25th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Celanese currently has a consensus rating of “Buy” and a consensus target price of $193.40.

Shares of CE stock opened at $173.53 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.40 and a quick ratio of 1.76. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 0.42 and a beta of 1.28. The company’s fifty day moving average price is $164.50 and its 200-day moving average price is $159.26. Celanese Co. has a one year low of $115.42 and a one year high of $176.50.

Celanese (NYSE:CE) last announced its quarterly earnings results on Wednesday, October 20th. The basic materials company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.07. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.19 billion. Celanese had a net margin of 35.90% and a return on equity of 42.83%. During the same period in the previous year, the firm posted $1.95 EPS. Equities research analysts expect that Celanese Co. will post 18.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Monday, November 1st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, October 29th. This represents a $2.72 dividend on an annualized basis and a yield of 1.57%. Celanese’s dividend payout ratio is currently 11.03%.

About Celanese

Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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