Stock Traders Purchase Large Volume of Celanese Put Options (NYSE:CE)

Celanese Co. (NYSE:CE) saw unusually large options trading on Monday. Traders purchased 1,415 put options on the stock. This represents an increase of 1,359% compared to the average volume of 97 put options.

NYSE:CE opened at $119.30 on Wednesday. Celanese has a 12-month low of $82.91 and a 12-month high of $127.15. The firm has a market capitalization of $14.64 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.71 and a beta of 1.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.04 and a quick ratio of 1.32. The business has a 50 day simple moving average of $120.91 and a 200 day simple moving average of $109.54.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $2.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.03. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $2.96 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Research analysts anticipate that Celanese will post 10.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Monday, October 28th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, October 25th. This represents a $2.48 dividend on an annualized basis and a yield of 2.08%. Celanese’s dividend payout ratio is currently 22.55%.

Several research analysts have recently commented on CE shares. Bank of America started coverage on Celanese in a research report on Thursday, September 26th. They issued an “underperform” rating and a $110.00 target price for the company. They noted that the move was a valuation call. Wells Fargo & Co started coverage on Celanese in a research report on Tuesday, October 15th. They issued an “outperform” rating and a $140.00 target price for the company. JPMorgan Chase & Co. upgraded Celanese from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $102.00 to $120.00 in a research report on Wednesday, July 24th. Nomura decreased their target price on Celanese from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, SunTrust Banks lifted their target price on Celanese from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Celanese currently has a consensus rating of “Hold” and an average target price of $120.11.

A number of large investors have recently added to or reduced their stakes in CE. Patriot Financial Group Insurance Agency LLC acquired a new position in Celanese during the 2nd quarter valued at approximately $28,000. Rockefeller Capital Management L.P. boosted its position in Celanese by 75.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 110 shares during the period. CSat Investment Advisory L.P. boosted its position in Celanese by 112.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 480 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 254 shares during the period. Doyle Wealth Management acquired a new position in Celanese during the 2nd quarter worth $53,000. Finally, Valeo Financial Advisors LLC boosted its position in Celanese by 31.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 524 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 98.19% of the company’s stock.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

Read More: Management Fee

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.