Celanese Co. (NYSE:CE) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Celanese Co. (NYSE:CE) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,137 shares of the basic materials company’s stock after purchasing an additional 1,074 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Celanese worth $33,057,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. DT Investment Partners LLC lifted its position in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Celanese in the second quarter valued at $28,000. LRI Investments LLC acquired a new position in Celanese in the first quarter valued at $31,000. Key Financial Inc grew its holdings in shares of Celanese by 3,933.3% during the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 236 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Celanese during the second quarter worth about $40,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

Shares of CE opened at $73.78 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. Celanese Co. has a 52-week low of $72.78 and a 52-week high of $172.16. The company has a 50-day simple moving average of $121.42 and a 200-day simple moving average of $133.74. The company has a market capitalization of $8.06 billion, a PE ratio of 7.42, a P/E/G ratio of 0.76 and a beta of 1.31.

Celanese (NYSE:CE) last issued its 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). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $2.50 earnings per share. Equities research analysts predict that Celanese Co. will post 8.67 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.80 annualized dividend and a dividend yield of 3.80%. Celanese’s dividend payout ratio is presently 28.17%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CE. Piper Sandler downgraded Celanese from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $150.00 to $98.00 in a research note on Friday, November 8th. Wells Fargo & Company cut shares of Celanese from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. BMO Capital Markets cut shares of Celanese from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $138.00 to $76.00 in a research note on Monday, November 11th. Vertical Research lowered shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, October 29th. Finally, Bank of America decreased their target price on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating for the company in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.35.

Insider Buying and Selling at Celanese

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $129.51, for a total transaction of $605,459.25. Following the sale, the chief operating officer now owns 69,754 shares in the company, valued at approximately $9,033,840.54. This represents a 6.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

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.