Celanese Co. (NYSE:CE) Stock Position Lifted by Tectonic Advisors LLC

Tectonic Advisors LLC grew its position in shares of Celanese Co. (NYSE:CE) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,276 shares of the basic materials company’s stock after buying an additional 617 shares during the period. Tectonic Advisors LLC’s holdings in Celanese were worth $581,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital Research Global Investors raised its position in shares of Celanese by 0.6% during the 1st quarter. Capital Research Global Investors now owns 14,899,384 shares of the basic materials company’s stock worth $2,560,608,000 after purchasing an additional 90,206 shares during the period. Capital World Investors raised its position in shares of Celanese by 0.3% during the 1st quarter. Capital World Investors now owns 6,158,773 shares of the basic materials company’s stock worth $1,058,447,000 after purchasing an additional 21,085 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Celanese by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,161,298 shares of the basic materials company’s stock worth $156,663,000 after purchasing an additional 150,201 shares during the period. Bank of New York Mellon Corp raised its position in shares of Celanese by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,085,522 shares of the basic materials company’s stock worth $146,426,000 after purchasing an additional 8,700 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in shares of Celanese by 14.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 378,507 shares of the basic materials company’s stock worth $51,057,000 after purchasing an additional 46,732 shares during the period. Institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

CE opened at $128.87 on Friday. The firm has a market cap of $14.08 billion, a PE ratio of 7.09, a P/E/G ratio of 0.70 and a beta of 1.30. The company has a quick ratio of 0.74, a current ratio of 1.28 and a debt-to-equity ratio of 1.45. The business has a fifty day simple moving average of $130.06 and a 200-day simple moving average of $139.84. Celanese Co. has a fifty-two week low of $110.76 and a fifty-two week high of $172.16.

Celanese (NYSE:CE) last released its earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.33). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Celanese had a return on equity of 13.60% and a net margin of 18.24%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $2.17 earnings per share. As a group, equities analysts predict that Celanese Co. will post 10.32 EPS for the current fiscal year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.17%. Celanese’s payout ratio is currently 15.41%.

Insider Activity

In related news, COO Scott A. Richardson sold 4,675 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $129.51, for a total transaction of $605,459.25. Following the transaction, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays lowered their target price on Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. KeyCorp cut Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Bank of America lowered their target price on Celanese from $137.00 to $128.00 and set an “underperform” rating on the stock in a research report on Monday, August 12th. UBS Group lowered their target price on Celanese from $193.00 to $184.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company lowered their target price on Celanese from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Celanese presently has an average rating of “Hold” and an average target price of $152.87.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials 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.