Texas Permanent School Fund Purchases 294 Shares of Celanese Co. (NYSE:CE)

Texas Permanent School Fund lifted its position in Celanese Co. (NYSE:CEGet Rating) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,306 shares of the basic materials company’s stock after purchasing an additional 294 shares during the period. Texas Permanent School Fund’s holdings in Celanese were worth $1,683,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CE. Renaissance Technologies LLC boosted its holdings in Celanese by 332.7% in the first quarter. Renaissance Technologies LLC now owns 547,800 shares of the basic materials company’s stock valued at $78,264,000 after acquiring an additional 421,200 shares in the last quarter. Invesco Ltd. boosted its holdings in Celanese by 30.2% in the first quarter. Invesco Ltd. now owns 1,097,231 shares of the basic materials company’s stock valued at $156,761,000 after acquiring an additional 254,456 shares in the last quarter. BlackRock Inc. boosted its holdings in Celanese by 2.7% in the first quarter. BlackRock Inc. now owns 7,849,893 shares of the basic materials company’s stock valued at $1,121,512,000 after acquiring an additional 207,520 shares in the last quarter. First Trust Advisors LP boosted its holdings in Celanese by 68.2% in the first quarter. First Trust Advisors LP now owns 475,618 shares of the basic materials company’s stock valued at $67,952,000 after acquiring an additional 192,838 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Celanese by 113.1% during the first quarter. Royal Bank of Canada now owns 330,937 shares of the basic materials company’s stock valued at $47,280,000 after buying an additional 175,650 shares during the period. Institutional investors own 93.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CE. Deutsche Bank Aktiengesellschaft lowered their price objective on Celanese from $110.00 to $105.00 in a research report on Thursday, November 10th. Morgan Stanley lowered their price objective on Celanese from $172.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 12th. TheStreet lowered Celanese from a “b-” rating to a “c+” rating in a research report on Friday, September 23rd. BMO Capital Markets lowered their price objective on Celanese from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Finally, Barclays lowered their price objective on Celanese from $165.00 to $133.00 in a research report on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $117.86.

Celanese Price Performance

CE opened at $100.55 on Thursday. The stock has a 50-day moving average price of $96.95 and a 200-day moving average price of $116.75. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.73 and a quick ratio of 4.11. The firm has a market cap of $10.90 billion, a PE ratio of 6.65 and a beta of 1.25. Celanese Co. has a 1 year low of $86.71 and a 1 year high of $176.50.

Celanese (NYSE:CEGet Rating) last released its quarterly earnings data on Friday, November 4th. The basic materials company reported $3.94 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.04). Celanese had a return on equity of 42.26% and a net margin of 17.20%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business posted $4.82 earnings per share. Celanese’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts predict that Celanese Co. will post 16.15 earnings per share for the current fiscal year.

Celanese Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.78%. This is an increase from Celanese’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, October 28th. Celanese’s dividend payout ratio (DPR) is presently 18.51%.

Celanese 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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