Metis Global Partners LLC Purchases 222 Shares of Celanese Co. (NYSE:CE)

Metis Global Partners LLC increased its position in Celanese Co. (NYSE:CE) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,534 shares of the basic materials company’s stock after purchasing an additional 222 shares during the quarter. Metis Global Partners LLC’s holdings in Celanese were worth $480,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. DT Investment Partners LLC boosted its position in Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Fairscale Capital LLC bought a new stake in shares of Celanese during the 2nd quarter worth about $28,000. LRI Investments LLC acquired a new position in Celanese in the 1st quarter valued at about $31,000. Key Financial Inc raised its holdings in Celanese by 3,933.3% in the 2nd quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 236 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Celanese during the second quarter worth approximately $40,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America decreased their target price on Celanese from $137.00 to $128.00 and set an “underperform” rating on the stock in a research report on Monday, August 12th. KeyCorp cut Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Mizuho reduced their target price 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. JPMorgan Chase & Co. raised shares of Celanese from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $156.00 to $130.00 in a research report on Monday, August 5th. Finally, Piper Sandler cut shares of Celanese from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $150.00 to $98.00 in a research note on Friday, November 8th. 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 target price of $121.35.

Celanese Price Performance

Celanese stock opened at $73.00 on Tuesday. The stock has a fifty day moving average of $121.42 and a 200-day moving average of $133.60. The stock has a market capitalization of $7.98 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 0.76 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. Celanese Co. has a 52 week low of $72.78 and a 52 week high of $172.16.

Celanese (NYSE:CE) last posted its earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The company 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 was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. On average, sell-side analysts expect that Celanese Co. will post 8.67 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.84%. Celanese’s payout ratio is presently 28.17%.

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.