TD Private Client Wealth LLC Decreases Stock Position in Celanese Co. (NYSE:CE)

TD Private Client Wealth LLC cut its holdings in Celanese Co. (NYSE:CE) by 90.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 492 shares of the basic materials company’s stock after selling 4,546 shares during the period. TD Private Client Wealth LLC’s holdings in Celanese were worth $67,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. raised its stake in Celanese by 2.7% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,441 shares of the basic materials company’s stock valued at $464,000 after purchasing an additional 91 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in Celanese by 13.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 839 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Celanese by 20.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System raised its stake in Celanese by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 27,552 shares of the basic materials company’s stock valued at $3,716,000 after purchasing an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC increased its stake 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 valued at $25,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CE. Morgan Stanley dropped their price objective on shares of Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group dropped their price objective on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and dropped their price objective for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Piper Sandler downgraded shares of Celanese from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $150.00 to $98.00 in a research note on Friday, November 8th. Finally, Robert W. Baird dropped their price objective on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $116.56.

Celanese Stock Down 0.4 %

NYSE CE opened at $68.58 on Monday. The stock has a market cap of $7.50 billion, a PE ratio of 6.90, a P/E/G ratio of 0.72 and a beta of 1.17. Celanese Co. has a fifty-two week low of $67.03 and a fifty-two week high of $172.16. The business has a 50 day moving average price of $98.61 and a two-hundred day moving average price of $121.70. 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 (NYSE:CE) last released its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share 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 return on equity of 13.17% and a net margin of 10.40%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 EPS. As a group, sell-side analysts predict that Celanese Co. will post 8.38 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Wednesday, October 30th. Celanese’s dividend payout ratio is presently 28.17%.

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.