Celanese Co. (CE) Position Trimmed by Ardevora Asset Management LLP

Ardevora Asset Management LLP reduced its stake in Celanese Co. (NYSE:CE) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,922 shares of the basic materials company’s stock after selling 36,806 shares during the quarter. Ardevora Asset Management LLP’s holdings in Celanese were worth $33,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Celanese by 4.8% during the first quarter. BlackRock Inc. now owns 7,450,478 shares of the basic materials company’s stock worth $746,612,000 after acquiring an additional 341,770 shares in the last quarter. LSV Asset Management raised its stake in shares of Celanese by 1.1% during the first quarter. LSV Asset Management now owns 2,523,692 shares of the basic materials company’s stock worth $252,899,000 after acquiring an additional 28,100 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Celanese by 2.5% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,257,233 shares of the basic materials company’s stock worth $226,197,000 after acquiring an additional 54,237 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Celanese by 13.9% during the first quarter. JPMorgan Chase & Co. now owns 1,475,181 shares of the basic materials company’s stock worth $147,828,000 after acquiring an additional 179,505 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in shares of Celanese by 4.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,163,222 shares of the basic materials company’s stock worth $116,567,000 after acquiring an additional 48,724 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. ValuEngine downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Citigroup lifted their price target on shares of Celanese from $131.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Jefferies Financial Group lifted their price target on shares of Celanese to $138.00 and gave the stock a “buy” rating in a research note on Monday, June 18th. Nomura lifted their price target on shares of Celanese from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Celanese from $110.00 to $114.00 and gave the stock a “$113.06” rating in a research note on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Celanese presently has an average rating of “Buy” and an average price target of $123.82.



In other news, EVP Peter G. Edwards sold 3,674 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $115.44, for a total value of $424,126.56. Following the transaction, the executive vice president now owns 12,160 shares in the company, valued at $1,403,750.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

Shares of Celanese stock traded down $0.42 on Monday, hitting $115.21. The stock had a trading volume of 39,862 shares, compared to its average volume of 987,261. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.39 and a current ratio of 1.96. Celanese Co. has a one year low of $92.65 and a one year high of $118.40. The stock has a market capitalization of $15.61 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.09 and a beta of 1.28.

Celanese (NYSE:CE) last issued its earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.50. Celanese had a net margin of 16.57% and a return on equity of 37.74%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business earned $1.79 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. equities research analysts forecast that Celanese Co. will post 10.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 6th. Stockholders of record on Friday, July 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, July 26th. Celanese’s dividend payout ratio is 28.76%.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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