Tyche Wealth Partners LLC Has $248,000 Stake in Celanese Co. (NYSE:CE)

Tyche Wealth Partners LLC reduced its stake in shares of Celanese Co. (NYSE:CE) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,822 shares of the basic materials company’s stock after selling 129 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Celanese were worth $248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC acquired a new stake in Celanese during the first quarter valued at $220,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Celanese by 25.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,996 shares of the basic materials company’s stock valued at $4,296,000 after buying an additional 5,143 shares in the last quarter. Norden Group LLC acquired a new position in Celanese in the first quarter worth approximately $363,000. First Trust Direct Indexing L.P. raised its position in Celanese by 16.9% during the first quarter. First Trust Direct Indexing L.P. now owns 1,659 shares of the basic materials company’s stock valued at $285,000 after acquiring an additional 240 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in Celanese by 3.2% during the first quarter. Ashton Thomas Private Wealth LLC now owns 21,362 shares of the basic materials company’s stock valued at $3,671,000 after acquiring an additional 662 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Performance

Shares of NYSE CE opened at $126.88 on Wednesday. Celanese Co. has a one year low of $110.76 and a one year high of $172.16. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 1.45. The business has a fifty day simple moving average of $130.06 and a 200 day simple moving average of $139.29. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.70 and a beta of 1.30.

Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.76 billion. During the same period in the previous year, the business posted $2.17 earnings per share. Celanese’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts expect that Celanese Co. will post 10.32 EPS for the current year.

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, October 30th. Celanese’s dividend payout ratio is 15.41%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Celanese from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Robert W. Baird lowered their price objective on Celanese from $180.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. upgraded Celanese from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $156.00 to $130.00 in a report on Monday, August 5th. UBS Group lowered their price target on Celanese from $193.00 to $184.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Bank of America reduced their price objective on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating for the company in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Celanese has an average rating of “Hold” and a consensus target price of $151.44.

Insider Buying and Selling at Celanese

In other news, COO Scott A. Richardson sold 4,675 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.