Quest Partners LLC Has $379,000 Holdings in Celanese Co. (NYSE:CE)

Quest Partners LLC reduced its stake in shares of Celanese Co. (NYSE:CE) by 76.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,789 shares of the basic materials company’s stock after selling 9,071 shares during the quarter. Quest Partners LLC’s holdings in Celanese were worth $379,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in Celanese during the first quarter valued at $31,000. Price T Rowe Associates Inc. MD grew its stake in shares of Celanese by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,378 shares of the basic materials company’s stock valued at $23,096,000 after buying an additional 1,367 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Celanese by 154.7% in the first quarter. Janus Henderson Group PLC now owns 31,409 shares of the basic materials company’s stock worth $5,397,000 after buying an additional 19,075 shares during the last quarter. Tidal Investments LLC raised its position in Celanese by 316.2% during the first quarter. Tidal Investments LLC now owns 7,583 shares of the basic materials company’s stock valued at $1,303,000 after acquiring an additional 5,761 shares in the last quarter. Finally, Zimmer Partners LP acquired a new stake in Celanese in the first quarter valued at approximately $5,671,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CE shares. Piper Sandler downgraded shares of Celanese from a “neutral” rating to an “underweight” rating and cut their price target for the company from $150.00 to $98.00 in a report on Friday, November 8th. Bank of America reduced their price target on Celanese from $137.00 to $128.00 and set an “underperform” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and lowered their price objective for the company from $135.00 to $110.00 in a report on Wednesday, November 6th. Vertical Research cut Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. raised shares of Celanese from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $156.00 to $130.00 in a research report on Monday, August 5th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $120.59.

Celanese Trading Down 0.4 %

Celanese stock opened at $74.70 on Monday. Celanese Co. has a 12 month low of $71.38 and a 12 month high of $172.16. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.77 and a beta of 1.31. The business has a 50 day moving average price of $116.72 and a two-hundred day moving average price of $130.56. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

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

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Wednesday, October 30th. Celanese’s dividend payout ratio (DPR) is presently 28.17%.

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.