Celanese Co. (NYSE:CE) Shares Bought by AdvisorNet Financial Inc

AdvisorNet Financial Inc increased its holdings in shares of Celanese Co. (NYSE:CEGet Rating) by 7.1% during the second quarter, Holdings Channel.com reports. The fund owned 4,043 shares of the basic materials company’s stock after buying an additional 268 shares during the period. AdvisorNet Financial Inc’s holdings in Celanese were worth $475,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its position in shares of Celanese by 92.6% during the 1st quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 87 shares during the period. Clearstead Advisors LLC grew its position in shares of Celanese by 830.0% during the 1st quarter. Clearstead Advisors LLC now owns 186 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 166 shares during the period. Herold Advisors Inc. acquired a new stake in shares of Celanese during the 1st quarter valued at about $35,000. Cambridge Trust Co. boosted its holdings in Celanese by 137.5% in the 1st quarter. Cambridge Trust Co. now owns 247 shares of the basic materials company’s stock worth $35,000 after buying an additional 143 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in Celanese in the 4th quarter worth about $47,000. 93.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CE. Barclays lowered their price objective on Celanese from $190.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Bank of America lowered their price objective on Celanese from $171.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. Citigroup cut Celanese to a “neutral” rating in a report on Tuesday, August 9th. Robert W. Baird lowered their price objective on Celanese to $180.00 in a report on Tuesday, August 9th. Finally, Credit Suisse Group began coverage on Celanese in a report on Monday, June 27th. They issued an “underperform” rating and a $105.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $158.80.

Celanese Trading Down 4.4 %

CE opened at $102.43 on Monday. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 5.71 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.06. The company’s 50 day simple moving average is $112.67 and its two-hundred day simple moving average is $131.07. Celanese Co. has a 1-year low of $100.11 and a 1-year high of $176.50.

Celanese (NYSE:CEGet Rating) last released its quarterly earnings results 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. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.39 billion. Celanese had a net margin of 20.55% and a return on equity of 46.75%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.02 EPS. Analysts expect that Celanese Co. will post 18.18 EPS for the current fiscal year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, July 25th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Friday, July 22nd. Celanese’s payout ratio is presently 15.16%.

Celanese Profile

(Get Rating)

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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