Wilmington Savings Fund Society FSB Buys New Shares in Celanese Co. (NYSE:CE)

Wilmington Savings Fund Society FSB bought a new position in shares of Celanese Co. (NYSE:CE) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,319 shares of the basic materials company’s stock, valued at approximately $179,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CE. DT Investment Partners LLC raised its stake in shares of Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Fairscale Capital LLC acquired a new position in Celanese in the second quarter worth about $28,000. Key Financial Inc lifted its stake in Celanese by 3,933.3% during the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 236 shares during the period. Rothschild Investment LLC bought a new stake in shares of Celanese in the 2nd quarter valued at approximately $40,000. Finally, Mather Group LLC. raised its holdings in shares of Celanese by 124.0% in the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock worth $55,000 after buying an additional 222 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CE has been the topic of several recent analyst reports. Wells Fargo & Company lowered Celanese from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $165.00 to $115.00 in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and lowered their target price for the stock from $135.00 to $110.00 in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price target on shares of Celanese from $163.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Mizuho dropped their price objective on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, Morgan Stanley reduced their target price on Celanese from $140.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.39.

Celanese Trading Down 0.7 %

Shares of NYSE CE opened at $67.94 on Thursday. Celanese Co. has a fifty-two week low of $67.03 and a fifty-two week high of $172.16. The firm has a market capitalization of $7.43 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.72 and a beta of 1.17. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The company’s 50 day simple moving average is $96.05 and its 200 day simple moving average is $120.53.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 earnings per share. On average, analysts predict that Celanese Co. will post 8.38 EPS for the current year.

Celanese Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.70 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.12%. Celanese’s dividend payout ratio is 28.17%.

Celanese Company Profile

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.