Celanese Co. (NYSE:CE) Holdings Raised by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in Celanese Co. (NYSE:CEGet Rating) by 4.2% during the second quarter, HoldingsChannel reports. The fund owned 7,756 shares of the basic materials company’s stock after purchasing an additional 311 shares during the quarter. Mackenzie Financial Corp’s holdings in Celanese were worth $912,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake 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 worth $25,000 after purchasing an additional 87 shares in the last quarter. Clearstead Advisors LLC increased its stake 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 worth $27,000 after purchasing an additional 166 shares during the last quarter. Clear Street Markets LLC raised its holdings in shares of Celanese by 415.9% during the 2nd quarter. Clear Street Markets LLC now owns 227 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Celanese in the 2nd quarter valued at $33,000. Finally, Herold Advisors Inc. bought a new stake in Celanese in the first quarter worth $35,000. Institutional investors and hedge funds own 93.34% of the company’s stock.

Celanese Stock Up 0.1 %

Shares of CE opened at $104.22 on Thursday. Celanese Co. has a 52 week low of $86.71 and a 52 week high of $176.50. The firm has a market capitalization of $11.30 billion, a P/E ratio of 6.89 and a beta of 1.25. The company has a 50-day simple moving average of $95.88 and a 200-day simple moving average of $115.04. The company has a debt-to-equity ratio of 2.15, a quick ratio of 4.11 and a current ratio of 4.73.

Celanese (NYSE:CEGet Rating) last posted its quarterly earnings results 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 net margin of 17.20% and a return on equity of 42.26%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company earned $4.82 EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts expect that Celanese Co. will post 16.08 earnings per share for the current year.

Celanese Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, October 28th. This is a positive change from Celanese’s previous quarterly dividend of $0.68. Celanese’s payout ratio is 18.51%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Mizuho reduced their price target on Celanese from $116.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, November 8th. StockNews.com initiated coverage on Celanese in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Royal Bank of Canada dropped their price target on shares of Celanese from $100.00 to $98.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 8th. Wells Fargo & Company decreased their price objective on shares of Celanese from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. Finally, UBS Group dropped their target price on shares of Celanese from $166.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $117.86.

About Celanese

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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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