Glenmede Trust Co. NA Boosts Stake in Celanese Co. (NYSE:CE)

Glenmede Trust Co. NA raised its position in shares of Celanese Co. (NYSE:CE) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,296 shares of the basic materials company’s stock after buying an additional 359 shares during the quarter. Glenmede Trust Co. NA’s holdings in Celanese were worth $1,400,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV lifted its stake in shares of Celanese by 155.5% in the 3rd quarter. KBC Group NV now owns 213,657 shares of the basic materials company’s stock valued at $29,049,000 after purchasing an additional 130,037 shares during the last quarter. National Pension Service grew its holdings in Celanese by 21.7% during the 3rd quarter. National Pension Service now owns 233,480 shares of the basic materials company’s stock valued at $31,744,000 after purchasing an additional 41,598 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Celanese by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock worth $134,723,000 after purchasing an additional 69,606 shares during the period. Cetera Advisors LLC lifted its stake in Celanese by 447.8% in the first quarter. Cetera Advisors LLC now owns 7,072 shares of the basic materials company’s stock worth $1,215,000 after purchasing an additional 5,781 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Celanese by 608.2% during the third quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after buying an additional 592,196 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Celanese Price Performance

Shares of CE stock opened at $73.21 on Monday. The stock’s 50-day moving average is $111.43 and its 200 day moving average is $127.55. Celanese Co. has a 1-year low of $71.38 and a 1-year high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market cap of $8.00 billion, a P/E ratio of 7.37, a PEG ratio of 0.78 and a beta of 1.31.

Celanese (NYSE:CE) last released its quarterly 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). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Celanese Co. will post 8.38 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, October 30th. Celanese’s dividend payout ratio is currently 28.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CE. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and decreased their price target for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $165.00 to $115.00 in a research note on Tuesday, November 5th. KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a research note on Monday, October 7th. Mizuho lowered their price objective on shares of Celanese from $132.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, UBS Group lowered shares of Celanese from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $161.00 to $97.00 in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $120.59.

Celanese 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.