Dynamic Technology Lab Private Ltd Grows Stake in Celanese Co. (CE)

Dynamic Technology Lab Private Ltd lifted its stake in shares of Celanese Co. (NYSE:CE) by 87.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,657 shares of the basic materials company’s stock after purchasing an additional 7,782 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Celanese were worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in shares of Celanese during the second quarter worth about $100,000. First Bank & Trust increased its stake in shares of Celanese by 106.4% during the third quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 563 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Celanese by 875.0% during the third quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,050 shares in the last quarter. Quantum Capital Management purchased a new stake in shares of Celanese during the second quarter worth about $208,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Celanese during the third quarter worth about $209,000. 96.46% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CE opened at $94.66 on Friday. Celanese Co. has a 12-month low of $92.52 and a 12-month high of $119.29. The stock has a market cap of $12.84 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.87 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.08 and a quick ratio of 1.40.



Celanese (NYSE:CE) last posted its earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.22. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. Celanese had a net margin of 18.57% and a return on equity of 39.39%. Celanese’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. As a group, equities analysts forecast that Celanese Co. will post 11.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Monday, October 29th were issued a $0.54 dividend. The ex-dividend date was Friday, October 26th. This represents a $2.16 annualized dividend and a yield of 2.28%. Celanese’s payout ratio is 28.76%.

Several brokerages recently issued reports on CE. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Tuesday, October 23rd. Alembic Global Advisors set a $103.00 price objective on shares of Celanese and gave the company a “sell” rating in a research note on Thursday, October 18th. Barclays dropped their price objective on shares of Celanese from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, October 22nd. Robert W. Baird dropped their price objective on shares of Celanese from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, October 22nd. Finally, Cowen upped their price objective on shares of Celanese from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $121.67.

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Celanese 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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