SG Americas Securities LLC Reduces Stock Position in Celanese Co. (NYSE:CE)

SG Americas Securities LLC trimmed its position in shares of Celanese Co. (NYSE:CE) by 85.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,994 shares of the basic materials company’s stock after selling 29,939 shares during the quarter. SG Americas Securities LLC’s holdings in Celanese were worth $679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank lifted its holdings in Celanese by 16.2% in the third quarter. Czech National Bank now owns 22,258 shares of the basic materials company’s stock valued at $3,026,000 after acquiring an additional 3,111 shares during the period. Sanctuary Advisors LLC bought a new stake in Celanese during the second quarter valued at approximately $1,434,000. New Century Financial Group LLC purchased a new stake in Celanese during the second quarter valued at approximately $1,247,000. Copperwynd Financial LLC raised its position in Celanese by 10.0% in the second quarter. Copperwynd Financial LLC now owns 4,745 shares of the basic materials company’s stock worth $670,000 after acquiring an additional 430 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of Celanese by 157.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 46,576 shares of the basic materials company’s stock worth $6,283,000 after acquiring an additional 28,508 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Celanese Trading Up 1.0 %

Shares of NYSE CE opened at $136.18 on Monday. Celanese Co. has a twelve month low of $110.76 and a twelve month high of $172.16. The firm has a market cap of $14.87 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 0.70 and a beta of 1.30. The business has a fifty day simple moving average of $128.85 and a two-hundred day simple moving average of $141.93. The company has a quick ratio of 0.74, a current ratio of 1.28 and a debt-to-equity ratio of 1.45.

Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.33). The business 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 firm’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.17 earnings per share. Analysts expect that Celanese Co. will post 10.32 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Tuesday, July 30th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, July 30th. Celanese’s payout ratio is currently 15.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays decreased their price target on Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. KeyCorp lowered shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Piper Sandler lowered shares of Celanese from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $180.00 to $150.00 in a research report on Thursday, September 5th. Bank of America decreased their target price on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Finally, UBS Group reduced their price objective on Celanese from $193.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Celanese presently has a consensus rating of “Hold” and an average target price of $152.87.

Insider Buying and Selling at Celanese

In other news, COO Scott A. Richardson sold 4,675 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $129.51, for a total value of $605,459.25. Following the sale, the chief operating officer now directly owns 69,754 shares in the company, valued at approximately $9,033,840.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

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.