AlphaMark Advisors LLC Trims Stock Position in Celanese Co. (NYSE:CE)

AlphaMark Advisors LLC decreased its stake in Celanese Co. (NYSE:CE) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,721 shares of the basic materials company’s stock after selling 130 shares during the quarter. AlphaMark Advisors LLC’s holdings in Celanese were worth $642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in Celanese by 0.6% in the first quarter. Capital Research Global Investors now owns 14,899,384 shares of the basic materials company’s stock valued at $2,560,608,000 after acquiring an additional 90,206 shares during the period. Capital World Investors boosted its holdings in Celanese by 0.3% during the first quarter. Capital World Investors now owns 6,158,773 shares of the basic materials company’s stock worth $1,058,447,000 after buying an additional 21,085 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Celanese by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,161,298 shares of the basic materials company’s stock valued at $156,663,000 after buying an additional 150,201 shares during the period. Bank of New York Mellon Corp increased its holdings in Celanese by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 1,085,522 shares of the basic materials company’s stock valued at $146,426,000 after buying an additional 8,700 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of Celanese by 14.1% in the second quarter. Epoch Investment Partners Inc. now owns 378,507 shares of the basic materials company’s stock worth $51,057,000 after acquiring an additional 46,732 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Stock Performance

NYSE:CE opened at $135.49 on Friday. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.70 and a beta of 1.30. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.28 and a quick ratio of 0.74. The company’s 50-day moving average is $129.56 and its two-hundred day moving average is $141.32. Celanese Co. has a 1-year low of $110.76 and a 1-year high of $172.16.

Celanese (NYSE:CE) last posted its earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.33). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business earned $2.17 EPS. Celanese’s revenue was down 5.2% compared to the same quarter last year. Analysts forecast that Celanese Co. will post 10.32 EPS for the current year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. Celanese’s dividend payout ratio is presently 15.41%.

Insider Buying and Selling

In related news, COO Scott A. Richardson sold 4,675 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $129.51, for a total value of $605,459.25. Following the sale, the chief operating officer now owns 69,754 shares in the company, valued at approximately $9,033,840.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CE has been the subject of several recent analyst reports. Piper Sandler lowered Celanese from an “overweight” rating to a “neutral” rating and cut their price target for the company from $180.00 to $150.00 in a research note on Thursday, September 5th. Bank of America dropped their price target on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $156.00 to $130.00 in a research report on Monday, August 5th. Royal Bank of Canada dropped their target price on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Finally, Citigroup reduced their target price on Celanese from $167.00 to $148.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Celanese presently has an average rating of “Hold” and a consensus price target of $152.87.

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.