Massmutual Trust Co. FSB ADV Boosts Stock Holdings in Celanese Co. (NYSE:CE)

Massmutual Trust Co. FSB ADV grew its stake in shares of Celanese Co. (NYSE:CE) by 34.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 456 shares of the basic materials company’s stock after buying an additional 116 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Celanese were worth $62,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in Celanese during the fourth quarter valued at approximately $28,000. Desjardins Global Asset Management Inc. lifted its holdings in shares of Celanese by 142.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 108 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in Celanese by 100.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 94 shares during the period. Mather Group LLC. acquired a new stake in Celanese in the 1st quarter valued at $31,000. Finally, LRI Investments LLC purchased a new position in Celanese in the first quarter valued at about $31,000. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Performance

NYSE CE traded up $1.10 during trading hours on Tuesday, reaching $127.09. The company’s stock had a trading volume of 1,443,074 shares, compared to its average volume of 738,524. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. The business has a 50-day simple moving average of $140.61 and a 200 day simple moving average of $150.33. Celanese Co. has a 52 week low of $110.76 and a 52 week high of $172.16. The stock has a market cap of $13.88 billion, a PE ratio of 6.93, a PEG ratio of 0.59 and a beta of 1.30.

Celanese (NYSE:CE) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.33). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.76 billion. Celanese had a net margin of 18.24% and a return on equity of 13.73%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $2.17 EPS. Equities research analysts predict that Celanese Co. will post 11.26 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Tuesday, July 30th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, July 30th. Celanese’s dividend payout ratio is currently 15.41%.

Analyst Upgrades and Downgrades

CE has been the subject of several analyst reports. Bank of America decreased their target price on Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a research report on Monday, June 10th. Wells Fargo & Company dropped their price objective on shares of Celanese from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group decreased their target price on shares of Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Mizuho lifted their price target on shares of Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Finally, Piper Sandler upped their price objective on shares of Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $156.75.

About Celanese

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.