Celanese Co. (NYSE:CE) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of Celanese Co. (NYSE:CE) by 15.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,922 shares of the basic materials company’s stock after acquiring an additional 2,111 shares during the period. CIBC Asset Management Inc’s holdings in Celanese were worth $2,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CE. Legacy Capital Group California Inc. raised its position in shares of Celanese by 2.7% in the second quarter. Legacy Capital Group California Inc. now owns 3,441 shares of the basic materials company’s stock worth $464,000 after acquiring an additional 91 shares during the period. Rosenberg Matthew Hamilton boosted its position in Celanese by 13.4% during the second quarter. Rosenberg Matthew Hamilton now owns 839 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Celanese by 20.4% in the second 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 period. State of Michigan Retirement System increased its position in shares of 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 buying an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC raised its stake in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after buying an additional 103 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Celanese Trading Down 1.1 %

Shares of CE stock opened at $72.19 on Wednesday. The company has a 50-day moving average of $119.54 and a two-hundred day moving average of $132.41. The firm has a market cap of $7.89 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 0.76 and a beta of 1.31. Celanese Co. has a 1-year low of $71.45 and a 1-year high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76.

Celanese (NYSE:CE) last posted its 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). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business posted $2.50 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that Celanese Co. will post 8.67 EPS for the current year.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.88%. The ex-dividend date was Wednesday, October 30th. Celanese’s payout ratio is 28.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. Mizuho reduced their target price on Celanese from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded Celanese from a “hold” rating to a “buy” rating and dropped their price target for the stock from $135.00 to $110.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Celanese from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $156.00 to $130.00 in a report on Monday, August 5th. Finally, BMO Capital Markets cut shares of Celanese from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $138.00 to $76.00 in a research report on Monday, November 11th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $120.59.

Celanese 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.