1,746 Shares in Celanese Co. (NYSE:CE) Bought by Net Worth Advisory Group

Net Worth Advisory Group bought a new position in shares of Celanese Co. (NYSE:CE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,746 shares of the basic materials company’s stock, valued at approximately $237,000.

Several other large investors also recently bought and sold shares of the company. Wright Investors Service Inc. boosted its position in shares of Celanese by 0.6% in the 1st quarter. Wright Investors Service Inc. now owns 13,733 shares of the basic materials company’s stock worth $2,360,000 after buying an additional 78 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Celanese by 2.8% during the 1st quarter. Bleakley Financial Group LLC now owns 2,866 shares of the basic materials company’s stock valued at $492,000 after acquiring an additional 79 shares in the last quarter. Legacy Capital Group California Inc. raised its position in Celanese by 2.7% during the second quarter. Legacy Capital Group California Inc. now owns 3,441 shares of the basic materials company’s stock worth $464,000 after acquiring an additional 91 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Celanese by 6.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,627 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 96 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its position in shares of Celanese by 3.1% in the first quarter. Jacobi Capital Management LLC now owns 3,188 shares of the basic materials company’s stock valued at $548,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Insider Transactions at Celanese

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

Analyst Ratings Changes

CE has been the subject of several research reports. Citigroup cut their price objective on Celanese from $167.00 to $148.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. KeyCorp downgraded Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada reduced their target price on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Finally, BMO Capital Markets lowered their price target on shares of Celanese from $142.00 to $138.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $152.87.

Celanese Stock Performance

NYSE:CE opened at $133.00 on Tuesday. Celanese Co. has a fifty-two week low of $110.76 and a fifty-two week high of $172.16. The firm’s 50 day moving average is $129.90 and its two-hundred day moving average is $140.45. The company has a market cap of $14.53 billion, a P/E ratio of 7.32, 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.

Celanese (NYSE:CE) last issued 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). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the business posted $2.17 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts expect that Celanese Co. will post 10.32 EPS for the current year.

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, October 30th. Celanese’s dividend payout ratio is currently 15.41%.

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.