Celanese Co. (NYSE:CE) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its position in Celanese Co. (NYSE:CE) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,436 shares of the basic materials company’s stock after acquiring an additional 780 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Celanese were worth $1,827,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Celanese by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,161,298 shares of the basic materials company’s stock valued at $156,663,000 after purchasing an additional 150,201 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Celanese by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,522 shares of the basic materials company’s stock worth $146,426,000 after acquiring an additional 8,700 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Celanese by 14.1% in the second quarter. Epoch Investment Partners Inc. now owns 378,507 shares of the basic materials company’s stock valued at $51,057,000 after acquiring an additional 46,732 shares during the last quarter. LPL Financial LLC boosted its stake in Celanese by 528.9% in the second quarter. LPL Financial LLC now owns 260,523 shares of the basic materials company’s stock valued at $35,142,000 after acquiring an additional 219,095 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Celanese by 0.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 243,137 shares of the basic materials company’s stock worth $33,057,000 after purchasing an additional 1,074 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Trading Down 0.4 %

Shares of CE opened at $74.70 on Monday. Celanese Co. has a twelve month low of $71.38 and a twelve month high of $172.16. The stock’s fifty day simple moving average is $116.72 and its 200 day simple moving average is $130.56. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $8.17 billion, a P/E ratio of 7.52, a price-to-earnings-growth ratio of 0.77 and a beta of 1.31.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 earnings per share. On average, equities research analysts forecast that Celanese Co. will post 8.67 earnings per share for the current year.

Celanese Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 annualized dividend and a yield of 3.75%. Celanese’s payout ratio is 28.17%.

Analyst Upgrades and Downgrades

CE has been the topic of a number of research reports. KeyCorp downgraded Celanese from an “overweight” rating to a “sector weight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and decreased their price target for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on shares of Celanese from $163.00 to $122.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird decreased their target price on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Celanese from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $156.00 to $130.00 in a research report on Monday, August 5th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $120.59.

Celanese Company Profile

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.