Celanese Corporation (NYSE:CE) Given Average Recommendation of “Hold” by Brokerages

Shares of Celanese Corporation (NYSE:CE) have received an average recommendation of “Hold” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $55.4444.

A number of equities research analysts have issued reports on the stock. Tudor Pickering upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Evercore decreased their target price on Celanese from $75.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Celanese in a report on Wednesday, January 21st. Jefferies Financial Group raised Celanese from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, February 5th. Finally, Zacks Research lowered shares of Celanese from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th.

Insiders Place Their Bets

In other news, CFO Chuck Kyrish purchased 5,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was purchased at an average price of $41.03 per share, with a total value of $205,150.00. Following the acquisition, the chief financial officer directly owned 10,914 shares in the company, valued at approximately $447,801.42. The trade was a 84.55% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Celanese by 111.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock valued at $28,000 after buying an additional 270 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Celanese by 55.4% in the second quarter. SBI Securities Co. Ltd. now owns 623 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 222 shares during the period. National Bank of Canada FI acquired a new position in Celanese in the third quarter worth about $34,000. Versant Capital Management Inc lifted its stake in Celanese by 140.4% during the third quarter. Versant Capital Management Inc now owns 827 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 483 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Celanese during the third quarter valued at approximately $36,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Celanese Stock Performance

Shares of NYSE CE opened at $58.72 on Friday. The business’s 50-day simple moving average is $45.77 and its 200-day simple moving average is $44.10. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.04 and a current ratio of 1.63. Celanese has a 52 week low of $35.13 and a 52 week high of $70.51. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of -2.08 and a beta of 1.12.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, February 24th. Celanese’s dividend payout ratio (DPR) is presently -0.42%.

About Celanese

Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.

In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.