Mutual of America Capital Management LLC Grows Stock Holdings in Celanese Co. (NYSE:CE)

Mutual of America Capital Management LLC boosted its holdings in shares of Celanese Co. (NYSE:CEGet Rating) by 2.4% during the second quarter, Holdings Channel.com reports. The firm owned 14,769 shares of the basic materials company’s stock after acquiring an additional 353 shares during the period. Mutual of America Capital Management LLC’s holdings in Celanese were worth $1,737,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CE. Renaissance Technologies LLC raised its stake in Celanese by 332.7% during the first quarter. Renaissance Technologies LLC now owns 547,800 shares of the basic materials company’s stock valued at $78,264,000 after purchasing an additional 421,200 shares in the last quarter. Invesco Ltd. raised its stake in Celanese by 30.2% during the first quarter. Invesco Ltd. now owns 1,097,231 shares of the basic materials company’s stock valued at $156,761,000 after purchasing an additional 254,456 shares in the last quarter. BlackRock Inc. raised its stake in Celanese by 2.7% during 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 purchasing an additional 207,520 shares in the last quarter. First Trust Advisors LP raised its stake in Celanese by 68.2% during 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 purchasing an additional 192,838 shares in the last quarter. Finally, Royal Bank of Canada raised its stake 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 purchasing an additional 175,650 shares in the last quarter. Hedge funds and other institutional investors own 93.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CE shares. UBS Group decreased their price target on shares of Celanese from $166.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. BMO Capital Markets cut their price objective on shares of Celanese from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Wells Fargo & Company cut their price objective on shares of Celanese from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 18th. Royal Bank of Canada cut their price objective 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. Finally, Barclays cut their price objective on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $117.86.

Celanese Stock Up 0.1 %

NYSE:CE opened at $104.22 on Friday. Celanese Co. has a 1-year low of $86.71 and a 1-year high of $176.50. The company has a 50-day moving average of $95.82 and a 200 day moving average of $114.97. The firm has a market cap of $11.30 billion, a PE ratio of 6.89 and a beta of 1.25. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.73 and a quick ratio of 4.11.

Celanese (NYSE:CEGet Rating) last released its quarterly earnings data on Friday, November 4th. The basic materials company reported $3.94 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.26 billion. During the same period last year, the company earned $4.82 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Celanese Co. will post 16.08 EPS 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 paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 28th. This is a positive change from Celanese’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a yield of 2.69%. Celanese’s dividend payout ratio is 18.51%.

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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