Skandinaviska Enskilda Banken AB publ Increases Stake in Celanese Co. (NYSE:CE)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Celanese Co. (NYSE:CE) by 52.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,207 shares of the basic materials company’s stock after buying an additional 12,870 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Celanese were worth $5,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CE. Herold Advisors Inc. purchased a new position in Celanese during the 3rd quarter worth approximately $36,000. Capital Analysts LLC purchased a new position in Celanese during the 3rd quarter worth approximately $36,000. Carolinas Wealth Consulting LLC raised its position in Celanese by 111.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 247 shares of the basic materials company’s stock worth $37,000 after buying an additional 130 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of Celanese by 33.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 326 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 82 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its holdings in shares of Celanese by 35.4% during the 3rd quarter. Berman Capital Advisors LLC now owns 413 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 108 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Shares of CE opened at $173.53 on Friday. Celanese Co. has a 52-week low of $115.42 and a 52-week high of $176.50. The company has a quick ratio of 1.76, a current ratio of 2.40 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average is $164.50 and its two-hundred day moving average is $159.26. The stock has a market cap of $18.89 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.28.

Celanese (NYSE:CE) last posted its quarterly earnings results on Wednesday, October 20th. The basic materials company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.75 by $0.07. Celanese had a return on equity of 42.83% and a net margin of 35.90%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. As a group, research analysts anticipate that Celanese Co. will post 18.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Stockholders of record on Monday, November 1st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, October 29th. This represents a $2.72 annualized dividend and a dividend yield of 1.57%. Celanese’s dividend payout ratio is presently 11.03%.

Several equities analysts have recently weighed in on CE shares. Citigroup lifted their target price on shares of Celanese from $198.00 to $206.00 in a report on Tuesday. Piper Sandler started coverage on shares of Celanese in a report on Friday, November 12th. They set an “overweight” rating and a $200.00 target price for the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Celanese in a report on Monday, December 20th. BMO Capital Markets lifted their price target on shares of Celanese from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, October 26th. Finally, Zacks Investment Research cut shares of Celanese from a “buy” rating to a “hold” rating and set a $167.00 price target on the stock. in a research note on Monday, December 20th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $193.40.

In related news, SVP Vanessa Dupuis sold 512 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $170.00, for a total value of $87,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Celanese Company Profile

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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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