Advisors Asset Management Inc. Has $1.31 Million Stake in Celanese Co. (NYSE:CE)

Advisors Asset Management Inc. grew its holdings in shares of Celanese Co. (NYSE:CE) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,654 shares of the basic materials company’s stock after purchasing an additional 927 shares during the period. Advisors Asset Management Inc.’s holdings in Celanese were worth $1,313,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CE. Legacy Capital Group California Inc. lifted its position in Celanese by 2.7% during the second quarter. Legacy Capital Group California Inc. now owns 3,441 shares of the basic materials company’s stock worth $464,000 after purchasing an additional 91 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of 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 in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of 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 grew its position in Celanese by 0.4% in the second quarter. State of Michigan Retirement System now owns 27,552 shares of the basic materials company’s stock valued at $3,716,000 after acquiring an additional 100 shares during the last quarter. Finally, DT Investment Partners LLC boosted 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 purchasing an additional 103 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

Celanese Stock Performance

CE opened at $76.54 on Tuesday. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.77 and a beta of 1.31. The company’s fifty day moving average price is $116.72 and its two-hundred day moving average price is $130.56. Celanese Co. has a 1-year low of $71.38 and a 1-year high of $172.16. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.41). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. Celanese’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 EPS. On average, analysts expect that Celanese Co. will post 8.67 EPS for the current fiscal year.

Celanese Announces Dividend

The business 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, October 30th. Celanese’s payout ratio is currently 28.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets cut Celanese from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $138.00 to $76.00 in a research note on Monday, November 11th. Royal Bank of Canada cut their price target on Celanese from $163.00 to $122.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley lowered their price objective on Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Piper Sandler downgraded shares of Celanese from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $150.00 to $98.00 in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and decreased their price target for the company from $135.00 to $110.00 in a research report on Wednesday, November 6th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Celanese presently has an average rating of “Hold” and an average target price of $120.59.

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.