Celanese Co. (NYSE:CE) Short Interest Update

Celanese Co. (NYSE:CEGet Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,940,000 shares, a decline of 6.8% from the February 29th total of 5,300,000 shares. Based on an average daily trading volume, of 702,200 shares, the short-interest ratio is currently 7.0 days. Currently, 4.5% of the company’s shares are sold short.

Insider Buying and Selling at Celanese

In other Celanese news, COO Scott A. Richardson sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $156.85, for a total value of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at approximately $11,987,888.65. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Celanese news, SVP Mark Christopher Murray purchased 597 shares of the stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of $156.43 per share, with a total value of $93,388.71. Following the transaction, the senior vice president now owns 11,600 shares of the company’s stock, valued at $1,814,588. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Scott A. Richardson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $156.85, for a total transaction of $313,700.00. Following the completion of the sale, the chief operating officer now directly owns 76,429 shares of the company’s stock, valued at approximately $11,987,888.65. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Celanese

A number of hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in Celanese by 92.6% during the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Certified Advisory Corp purchased a new position in Celanese during the first quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its holdings in Celanese by 83.7% during the third quarter. EverSource Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 103 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Celanese in the fourth quarter valued at about $28,000. Finally, Asset Dedication LLC raised its position in shares of Celanese by 180.0% in the third quarter. Asset Dedication LLC now owns 224 shares of the basic materials company’s stock valued at $29,000 after buying an additional 144 shares during the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Up 1.3 %

NYSE:CE opened at $171.86 on Monday. The firm has a market capitalization of $18.72 billion, a P/E ratio of 9.60, a PEG ratio of 0.68 and a beta of 1.35. Celanese has a 1-year low of $99.33 and a 1-year high of $172.16. The company’s fifty day moving average price is $153.77 and its 200-day moving average price is $140.35. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 0.95.

Celanese (NYSE:CEGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). Celanese had a return on equity of 14.61% and a net margin of 17.92%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Celanese will post 11.46 EPS for the current year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Friday, February 16th. Celanese’s dividend payout ratio (DPR) is presently 15.64%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Celanese from $150.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Robert W. Baird upped their price target on shares of Celanese from $135.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. StockNews.com raised shares of Celanese from a “sell” rating to a “hold” rating in a research report on Wednesday, February 21st. Alembic Global Advisors lowered shares of Celanese from an “overweight” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Monday, January 22nd. Finally, Citigroup boosted their price objective on shares of Celanese from $130.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Celanese has an average rating of “Hold” and an average price target of $144.28.

Read Our Latest Research Report on CE

About Celanese

(Get Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It 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.

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