Advisory Services Network LLC Boosts Holdings in Celanese Co. (NYSE:CE)

Advisory Services Network LLC lifted its stake in Celanese Co. (NYSE:CEGet Rating) by 291.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,367 shares of the basic materials company’s stock after buying an additional 9,956 shares during the period. Advisory Services Network LLC’s holdings in Celanese were worth $1,909,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Celanese by 2.7% in the 1st quarter. BlackRock Inc. now owns 7,849,893 shares of the basic materials company’s stock valued at $1,121,512,000 after buying an additional 207,520 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Celanese by 2.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 2,409,786 shares of the basic materials company’s stock valued at $344,286,000 after buying an additional 49,289 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Celanese by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,052,472 shares of the basic materials company’s stock valued at $344,931,000 after buying an additional 24,520 shares during the last quarter. Norges Bank purchased a new position in shares of Celanese in the 4th quarter valued at $223,876,000. Finally, Invesco Ltd. grew its position in Celanese by 30.2% during the 1st quarter. Invesco Ltd. now owns 1,097,231 shares of the basic materials company’s stock worth $156,761,000 after purchasing an additional 254,456 shares during the last quarter. 93.34% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Down 4.4 %

Shares of NYSE CE opened at $102.43 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.72 and a debt-to-equity ratio of 0.58. Celanese Co. has a 52 week low of $100.11 and a 52 week high of $176.50. The firm has a 50-day moving average price of $112.67 and a 200 day moving average price of $131.07. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 5.71 and a beta of 1.22.

Celanese (NYSE:CEGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The basic materials company reported $4.99 EPS for the quarter, beating the consensus estimate of $4.56 by $0.43. Celanese had a net margin of 20.55% and a return on equity of 46.75%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the business earned $5.02 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Celanese Co. will post 18.18 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Investors of record on Monday, July 25th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Friday, July 22nd. Celanese’s dividend payout ratio (DPR) is 15.16%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CE. Jefferies Financial Group downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Celanese from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Citigroup downgraded shares of Celanese to a “neutral” rating in a research report on Tuesday, August 9th. Royal Bank of Canada downgraded shares of Celanese from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $200.00 to $116.00 in a research report on Wednesday, July 13th. Finally, Robert W. Baird lowered their price objective on shares of Celanese to $180.00 in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $158.80.

Celanese Company Profile

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Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, 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.

See Also

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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