Advisor Group Holdings Inc. boosted its stake in shares of Celanese Co. (NYSE:CE) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,295 shares of the basic materials company’s stock after acquiring an additional 550 shares during the period. Advisor Group Holdings Inc.’s holdings in Celanese were worth $3,208,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Paloma Partners Management Co increased its stake in Celanese by 141.3% during the 2nd quarter. Paloma Partners Management Co now owns 20,323 shares of the basic materials company’s stock worth $3,081,000 after acquiring an additional 11,901 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in shares of Celanese by 3.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 37,512 shares of the basic materials company’s stock valued at $5,649,000 after purchasing an additional 1,179 shares in the last quarter. Inverness Counsel LLC NY boosted its holdings in shares of Celanese by 8.3% in the 3rd quarter. Inverness Counsel LLC NY now owns 226,866 shares of the basic materials company’s stock valued at $34,175,000 after purchasing an additional 17,427 shares in the last quarter. Amundi acquired a new stake in shares of Celanese in the 2nd quarter valued at $89,561,000. Finally, Bank of America Corp DE boosted its holdings in shares of Celanese by 9.2% in the 2nd quarter. Bank of America Corp DE now owns 1,123,120 shares of the basic materials company’s stock valued at $170,264,000 after purchasing an additional 94,971 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.
Shares of Celanese stock opened at $173.53 on Friday. Celanese Co. has a one year low of $115.42 and a one year high of $176.50. The firm has a market capitalization of $18.89 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 0.41 and a beta of 1.28. The business has a 50-day simple moving average of $164.50 and a 200 day simple moving average of $159.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.40 and a quick ratio of 1.76.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Monday, November 1st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, October 29th. Celanese’s dividend payout ratio is currently 11.03%.
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their target price on Celanese from $197.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, December 15th. Royal Bank of Canada raised their target price on Celanese from $188.00 to $198.00 and gave the company an “outperform” rating in a report on Tuesday, October 26th. Deutsche Bank Aktiengesellschaft raised their target price on Celanese from $175.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. Morgan Stanley raised their price objective on Celanese from $157.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Celanese in a report on Monday, December 20th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Celanese presently has an average rating of “Buy” and an average target price of $193.40.
In other Celanese news, SVP Vanessa Dupuis sold 512 shares of the business’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $170.00, for a total transaction of $87,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.
Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.
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