Celanese Co. (NYSE:CE) Shares Purchased by AM Squared Ltd

AM Squared Ltd boosted its holdings in Celanese Co. (NYSE:CE) by 84.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,400 shares of the basic materials company’s stock after acquiring an additional 4,300 shares during the quarter. Celanese accounts for 0.8% of AM Squared Ltd’s portfolio, making the stock its 17th largest position. AM Squared Ltd’s holdings in Celanese were worth $1,024,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Celanese by 1.7% during the 1st quarter. BlackRock Inc. now owns 7,774,444 shares of the basic materials company’s stock valued at $846,559,000 after purchasing an additional 131,705 shares during the period. Wellington Management Group LLP increased its position in shares of Celanese by 2.0% during the 1st quarter. Wellington Management Group LLP now owns 7,104,461 shares of the basic materials company’s stock valued at $773,605,000 after purchasing an additional 142,516 shares during the period. FMR LLC increased its position in shares of Celanese by 33.8% during the 1st quarter. FMR LLC now owns 4,094,706 shares of the basic materials company’s stock valued at $445,872,000 after purchasing an additional 1,035,456 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Celanese by 0.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,464,658 shares of the basic materials company’s stock valued at $268,377,000 after purchasing an additional 12,004 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Celanese by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 2,124,529 shares of the basic materials company’s stock valued at $230,810,000 after purchasing an additional 27,670 shares during the period. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Celanese Stock Performance

Shares of NYSE CE opened at $125.99 on Wednesday. The business’s 50-day moving average price is $122.45 and its two-hundred day moving average price is $113.69. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.59 and a quick ratio of 0.95. Celanese Co. has a one year low of $86.71 and a one year high of $129.27. The company has a market capitalization of $13.71 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 4.50 and a beta of 1.32.

Celanese (NYSE:CE) last released its quarterly earnings results on Monday, August 7th. The basic materials company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.29). The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.96 billion. Celanese had a return on equity of 17.68% and a net margin of 12.32%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.99 EPS. Analysts anticipate that Celanese Co. will post 9.07 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.70 dividend. The ex-dividend date was Friday, July 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.22%. Celanese’s payout ratio is presently 24.10%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CE. Vertical Research cut Celanese from a “buy” rating to a “hold” rating and set a $122.00 price target on the stock. in a research report on Friday, June 9th. Piper Sandler cut Celanese from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $120.00 to $112.00 in a report on Tuesday, August 29th. Wells Fargo & Company lifted their target price on Celanese from $124.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Morgan Stanley restated an “equal weight” rating and issued a $110.00 target price on shares of Celanese in a report on Wednesday, July 19th. Finally, Bank of America cut Celanese from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $123.00 to $116.00 in a report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.13.

Celanese Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials 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.