Natixis Advisors LLC Sells 9,912 Shares of Celanese Co. (NYSE:CE)

Natixis Advisors LLC reduced its stake in Celanese Co. (NYSE:CE) by 19.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,044 shares of the basic materials company’s stock after selling 9,912 shares during the period. Natixis Advisors LLC’s holdings in Celanese were worth $5,580,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CE. DT Investment Partners LLC boosted its holdings in shares of Celanese by 128.8% in the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 103 shares during the period. Fairscale Capital LLC bought a new position in shares of Celanese in the second quarter worth $28,000. LRI Investments LLC bought a new position in shares of Celanese in the first quarter worth $31,000. Key Financial Inc boosted its holdings in shares of Celanese by 3,933.3% in the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 236 shares during the period. Finally, ORG Partners LLC bought a new position in shares of Celanese in the second quarter worth $40,000. 98.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CE. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and dropped their price objective for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Piper Sandler lowered Celanese from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $150.00 to $98.00 in a research note on Friday, November 8th. Robert W. Baird dropped their price objective on Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, October 29th. Finally, Morgan Stanley dropped their price objective on Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Celanese currently has a consensus rating of “Hold” and an average target price of $120.59.

Celanese Stock Down 0.4 %

CE opened at $74.69 on Friday. The company has a market cap of $8.16 billion, a P/E ratio of 7.51, a P/E/G ratio of 0.74 and a beta of 1.31. The business’s 50-day moving average price is $117.69 and its 200-day moving average price is $131.60. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. Celanese Co. has a 12 month low of $71.38 and a 12 month high of $172.16.

Celanese (NYSE:CE) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts expect 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 issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. Celanese’s dividend payout ratio 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.