Pathstone Holdings LLC Reduces Position in Celanese Co. (NYSE:CE)

Pathstone Holdings LLC lowered its position in Celanese Co. (NYSE:CE) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,940 shares of the basic materials company’s stock after selling 469 shares during the quarter. Pathstone Holdings LLC’s holdings in Celanese were worth $2,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DT Investment Partners LLC raised its position in Celanese by 128.8% in the third 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 during the period. Fairscale Capital LLC acquired a new stake in Celanese during the 2nd quarter worth approximately $28,000. LRI Investments LLC purchased a new position in Celanese in the 1st quarter valued at approximately $31,000. Key Financial Inc raised its stake in shares of Celanese by 3,933.3% in the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 236 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Celanese during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CE shares. Bank of America lowered their price target on Celanese from $137.00 to $128.00 and set an “underperform” rating for the company in a report on Monday, August 12th. UBS Group lowered shares of Celanese from a “buy” rating to a “neutral” rating and cut their price target for the stock from $161.00 to $97.00 in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft upgraded Celanese from a “hold” rating to a “buy” rating and cut their target price for the stock from $135.00 to $110.00 in a research report on Wednesday, November 6th. Robert W. Baird reduced their price objective on Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $165.00 to $115.00 in a research report on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Celanese currently has a consensus rating of “Hold” and an average price target of $120.59.

Celanese Trading Down 4.8 %

NYSE:CE opened at $72.85 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock has a fifty day simple moving average of $115.77 and a 200-day simple moving average of $129.97. Celanese Co. has a 52-week low of $71.38 and a 52-week high of $172.16. The company has a market capitalization of $7.96 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.31.

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

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a $0.70 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 annualized dividend and a yield of 3.84%. Celanese’s payout ratio is currently 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.