Yousif Capital Management LLC increased its stake in Celanese Corporation (NYSE:CE – Free Report) by 2.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 33,208 shares of the basic materials company’s stock after purchasing an additional 935 shares during the quarter. Yousif Capital Management LLC’s holdings in Celanese were worth $1,837,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in CE. Strengthening Families & Communities LLC lifted its holdings in Celanese by 73.2% during the 1st quarter. Strengthening Families & Communities LLC now owns 440 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 186 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Celanese during the 1st quarter valued at $30,000. Mather Group LLC. lifted its holdings in Celanese by 127.0% during the 1st quarter. Mather Group LLC. now owns 622 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. LRI Investments LLC lifted its holdings in Celanese by 99.0% during the 2nd quarter. LRI Investments LLC now owns 758 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 377 shares during the last quarter. Finally, SOA Wealth Advisors LLC. acquired a new stake in Celanese during the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 98.87% of the company’s stock.
Celanese Stock Up 0.6%
CE stock opened at $40.21 on Monday. The company has a debt-to-equity ratio of 2.22, a current ratio of 2.05 and a quick ratio of 1.22. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -2.71, a PEG ratio of 1.84 and a beta of 1.13. The business’s fifty day moving average price is $44.06 and its two-hundred day moving average price is $48.94. Celanese Corporation has a fifty-two week low of $36.29 and a fifty-two week high of $136.47.
Celanese Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Tuesday, October 28th will be given a $0.03 dividend. The ex-dividend date is Tuesday, October 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Celanese’s dividend payout ratio (DPR) is presently -0.81%.
Insider Activity at Celanese
In related news, Director Timothy Go purchased 1,039 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average price of $46.25 per share, for a total transaction of $48,053.75. Following the completion of the transaction, the director owned 4,415 shares of the company’s stock, valued at approximately $204,193.75. This trade represents a 30.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.
Analyst Upgrades and Downgrades
CE has been the subject of several research reports. BMO Capital Markets cut their price target on Celanese from $55.00 to $47.00 and set a “market perform” rating for the company in a report on Thursday, August 14th. Mizuho raised their price target on Celanese from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Royal Bank Of Canada set a $43.00 price target on Celanese in a report on Tuesday, October 14th. Wells Fargo & Company lowered their price objective on Celanese from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 30th. Finally, KeyCorp lowered their price objective on Celanese from $77.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 13th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Celanese presently has an average rating of “Hold” and a consensus target price of $56.11.
Get Our Latest Analysis on Celanese
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.
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