Celanese Corporation $CE Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its holdings in Celanese Corporation (NYSE:CE) by 253,354.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 27,880 shares of the basic materials company’s stock after acquiring an additional 27,869 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Celanese were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CE. BlackRock Inc. purchased a new position in shares of Celanese during the second quarter worth about $614,675,000. Turtle Creek Asset Management Inc. increased its position in shares of Celanese by 18.1% in the first quarter. Turtle Creek Asset Management Inc. now owns 2,547,744 shares of the basic materials company’s stock worth $167,565,000 after purchasing an additional 391,204 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Celanese by 83.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,187,235 shares of the basic materials company’s stock worth $143,849,000 after purchasing an additional 993,193 shares during the last quarter. Bank of America Corp DE purchased a new stake in Celanese in the second quarter valued at approximately $62,580,000. Finally, Pine Valley Investments Ltd Liability Co raised its stake in Celanese by 8.4% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 836,733 shares of the basic materials company’s stock valued at $55,032,000 after purchasing an additional 65,155 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CE shares. Morgan Stanley cut their price target on shares of Celanese from $72.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Royal Bank Of Canada upped their target price on shares of Celanese from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 13th. BMO Capital Markets reissued a “market perform” rating and issued a $58.00 target price on shares of Celanese in a research note on Monday. Deutsche Bank set a $50.00 price target on Celanese in a research report on Thursday, August 6th. Finally, Citigroup lifted their price target on Celanese from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.56.

Celanese Stock Performance

Shares of NYSE:CE opened at $51.30 on Thursday. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.34 and a beta of 0.72. The company has a 50-day moving average price of $46.67 and a 200-day moving average price of $51.47. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 2.19. Celanese Corporation has a 12 month low of $35.13 and a 12 month high of $70.70.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, November 2nd. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.62 billion. Celanese had a return on equity of 13.63% and a net margin of 2.66%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $1.34 EPS. As a group, equities analysts anticipate that Celanese Corporation will post 6.13 EPS for the current year.

Celanese Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, October 27th. Celanese’s dividend payout ratio (DPR) is 5.06%.

About Celanese

Celanese Corporation is a global chemicals and specialty materials company that develops and manufactures engineered polymers and acetyl-based products. Its materials are used in applications across industries including automotive, consumer goods, medical, industrial, paints and coatings, and adhesives. The company’s portfolio includes engineered thermoplastics and other polymers, as well as acetyl products such as acetic acid, vinyl acetate monomer, and related emulsions and derivatives. These materials are used in products ranging from vehicle components and medical devices to packaging, coatings, and construction materials.