Celanese Corporation (NYSE:CE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Celanese Corporation (NYSE:CE) by 3.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 821,022 shares of the basic materials company’s stock after selling 27,596 shares during the period. Bank of New York Mellon Corp owned 0.75% of Celanese worth $46,609,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CE. Altshuler Shaham Ltd bought a new stake in Celanese in the fourth quarter valued at $25,000. State of Wyoming lifted its position in Celanese by 122.5% in the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 267 shares during the last quarter. LRI Investments LLC boosted its stake in Celanese by 739.1% during the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 473 shares during the period. Mather Group LLC. grew its position in Celanese by 127.0% in the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 348 shares during the last quarter. Finally, American National Bank & Trust bought a new position in Celanese in the 1st quarter worth about $40,000. 98.87% of the stock is currently owned by institutional investors.

Celanese Trading Down 2.2%

Shares of NYSE CE opened at $61.02 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 2.20. Celanese Corporation has a 12 month low of $36.29 and a 12 month high of $147.86. The company has a market cap of $6.68 billion, a price-to-earnings ratio of -4.01, a P/E/G ratio of 2.29 and a beta of 1.14. The business has a fifty day simple moving average of $55.08 and a 200-day simple moving average of $56.58.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, May 5th. The basic materials company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.26 billion. Celanese had a negative net margin of 16.54% and a positive return on equity of 11.28%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. Sell-side analysts predict that Celanese Corporation will post 8.79 EPS for the current year.

Celanese Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, April 28th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Monday, April 28th. Celanese’s dividend payout ratio is currently -0.79%.

Analyst Ratings Changes

CE has been the subject of several analyst reports. Citigroup boosted their price objective on Celanese from $52.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America boosted their price target on Celanese from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. UBS Group increased their price target on Celanese from $51.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Celanese from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $63.00 target price (up previously from $53.00) on shares of Celanese in a research report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.33.

Insider Transactions at Celanese

In other Celanese news, SVP Mark Christopher Murray bought 1,479 shares of the stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $52.18 per share, with a total value of $77,174.22. Following the purchase, the senior vice president directly owned 15,468 shares in the company, valued at $807,120.24. The trade was a 10.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Celanese 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.