Metis Global Partners LLC Purchases 222 Shares of Celanese Co. (NYSE:CE)

Metis Global Partners LLC boosted its holdings in Celanese Co. (NYSE:CE) by 6.7% in the third quarter, Holdings Channel reports. The institutional investor owned 3,534 shares of the basic materials company’s stock after buying an additional 222 shares during the period. Metis Global Partners LLC’s holdings in Celanese were worth $480,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Legacy Capital Group California Inc. increased its stake in shares of Celanese by 2.7% in the second quarter. Legacy Capital Group California Inc. now owns 3,441 shares of the basic materials company’s stock valued at $464,000 after buying an additional 91 shares during the period. Rosenberg Matthew Hamilton increased its position in Celanese by 13.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 839 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Celanese by 20.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the basic materials company’s stock worth $79,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Celanese by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 27,552 shares of the basic materials company’s stock worth $3,716,000 after purchasing an additional 100 shares during the period. Finally, DT Investment Partners LLC boosted its stake in shares of Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Celanese Price Performance

CE stock opened at $73.00 on Tuesday. The company has a market capitalization of $7.98 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 0.76 and a beta of 1.31. Celanese Co. has a 52-week low of $72.78 and a 52-week high of $172.16. The business has a 50-day simple moving average of $121.42 and a two-hundred day simple moving average of $133.60. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37.

Celanese (NYSE:CE) last announced its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 EPS. Research analysts expect that Celanese Co. will post 8.67 EPS for the current fiscal year.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, October 30th. Celanese’s payout ratio is currently 28.17%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CE shares. KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a research note on Monday, October 7th. Mizuho dropped their price objective on Celanese from $132.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. UBS Group lowered Celanese from a “buy” rating to a “neutral” rating and cut their target price for the company from $161.00 to $97.00 in a research report on Monday, November 11th. Piper Sandler downgraded Celanese from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $150.00 to $98.00 in a report on Friday, November 8th. Finally, Wells Fargo & Company cut Celanese from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $165.00 to $115.00 in a report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned 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 $121.35.

Celanese Company Profile

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.