Celanese (NYSE:CE) Trading Down 5.7%
Celanese Co. (NYSE:CE) shares were down 5.7% during trading on Friday . The company traded as low as $106.65 and last traded at $107.25, approximately 1,104,319 shares were traded during mid-day trading. An increase of 3% from the average daily volume of 1,077,269 shares. The stock had previously closed at $113.74.
A number of research analysts have recently commented on CE shares. Vertical Research cut Celanese from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Nomura lowered their target price on Celanese from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised Celanese from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $102.00 to $120.00 in a research report on Wednesday, July 24th. BMO Capital Markets raised their price objective on Celanese from $115.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, Cowen reaffirmed a “market perform” rating and set a $110.00 price objective (up previously from $105.00) on shares of Celanese in a research report on Monday, July 1st. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $117.87.
The company has a 50-day moving average price of $108.46 and a 200 day moving average price of $103.97. The firm has a market capitalization of $13.54 billion, a PE ratio of 9.75, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.04 and a quick ratio of 1.32.
The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Friday, July 26th were given a $0.62 dividend. The ex-dividend date was Thursday, July 25th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.31%. Celanese’s dividend payout ratio is currently 22.55%.
Several large investors have recently bought and sold shares of CE. Advisory Alpha LLC purchased a new stake in shares of Celanese in the first quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Celanese in the second quarter worth about $28,000. Rockefeller Capital Management L.P. increased its stake in Celanese by 75.3% during the second quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Investors Research Corp bought a new stake in Celanese during the first quarter worth approximately $41,000. Finally, Acima Private Wealth LLC increased its stake in Celanese by 28.6% during the first quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 98.32% of the company’s stock.
Celanese Company Profile (NYSE:CE)
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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