Nissay Asset Management Corp Japan ADV Reduces Holdings in Celanese Co. (NYSE:CE)

Nissay Asset Management Corp Japan ADV trimmed its holdings in shares of Celanese Co. (NYSE:CE) by 1.1% in the second quarter, HoldingsChannel reports. The firm owned 11,855 shares of the basic materials company’s stock after selling 130 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Celanese were worth $1,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CE. Quadrant Capital Group LLC increased its stake in shares of Celanese by 15.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,548 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 211 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Celanese by 10.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,345 shares of the basic materials company’s stock worth $411,000 after acquiring an additional 327 shares during the period. Macquarie Group Ltd. grew its stake in Celanese by 109.7% in the 4th quarter. Macquarie Group Ltd. now owns 206,067 shares of the basic materials company’s stock worth $25,371,000 after acquiring an additional 107,810 shares during the period. Norges Bank purchased a new stake in Celanese in the 4th quarter worth approximately $121,772,000. Finally, Fulton Bank N.A. grew its stake in Celanese by 7.4% in the 1st quarter. Fulton Bank N.A. now owns 5,637 shares of the basic materials company’s stock worth $414,000 after acquiring an additional 388 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.

CE has been the subject of several research reports. Wells Fargo & Co raised shares of Celanese from an “equal weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research note on Friday. Deutsche Bank boosted their price objective on shares of Celanese from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday. Cfra boosted their price objective on shares of Celanese from $81.00 to $86.00 and gave the company a “hold” rating in a research note on Tuesday, April 28th. Stifel Nicolaus boosted their price objective on shares of Celanese from $87.00 to $103.00 and gave the company a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets lowered their price objective on shares of Celanese from $100.00 to $92.00 and set a “market perform” rating for the company in a research note on Thursday, April 30th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Celanese currently has a consensus rating of “Buy” and a consensus target price of $105.95.

Shares of CE stock opened at $97.20 on Friday. Celanese Co. has a 12 month low of $52.70 and a 12 month high of $128.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.20 and a quick ratio of 0.94. The firm has a market capitalization of $11.49 billion, a P/E ratio of 11.99, a P/E/G ratio of 5.28 and a beta of 1.37. The company’s fifty day moving average price is $88.67 and its two-hundred day moving average price is $90.07.

Celanese (NYSE:CE) last issued its quarterly earnings data on Tuesday, July 28th. The basic materials company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.25. Celanese had a net margin of 11.13% and a return on equity of 33.49%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $2.38 EPS. The firm’s revenue was down 25.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Celanese Co. will post 6.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be paid a $0.62 dividend. The ex-dividend date is Friday, July 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.55%. Celanese’s dividend payout ratio (DPR) is presently 26.02%.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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