Celanese Co. (CE) Stake Lessened by Marshall Wace North America L.P.

Marshall Wace North America L.P. trimmed its holdings in shares of Celanese Co. (NYSE:CE) by 42.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,834 shares of the basic materials company’s stock after selling 173,767 shares during the period. Marshall Wace North America L.P. owned approximately 0.18% of Celanese worth $27,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in Celanese in the 2nd quarter valued at approximately $100,000. First Bank & Trust boosted its position in Celanese by 106.4% in the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after buying an additional 563 shares during the last quarter. Parallel Advisors LLC boosted its position in Celanese by 875.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock valued at $133,000 after buying an additional 1,050 shares during the last quarter. Capital Guardian Trust Co. bought a new position in shares of Celanese in the 3rd quarter worth $189,000. Finally, Quantum Capital Management bought a new position in shares of Celanese in the 2nd quarter worth $208,000. 96.46% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on CE shares. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Tuesday, October 23rd. Alembic Global Advisors set a $103.00 price target on Celanese and gave the stock a “sell” rating in a report on Thursday, October 18th. Barclays reduced their price target on Celanese from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, October 22nd. Robert W. Baird reduced their price objective on Celanese from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. Finally, Cowen boosted their price objective on Celanese from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. Celanese currently has a consensus rating of “Buy” and an average target price of $121.67.

Shares of CE stock traded down $0.09 during mid-day trading on Friday, reaching $94.57. The stock had a trading volume of 16,296 shares, compared to its average volume of 1,231,125. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 0.87 and a beta of 1.41. The company has a current ratio of 2.08, a quick ratio of 1.40 and a debt-to-equity ratio of 0.81. Celanese Co. has a 52-week low of $92.52 and a 52-week high of $119.29.

Celanese (NYSE:CE) last posted its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.74 by $0.22. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. Celanese’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 earnings per share. Equities analysts predict that Celanese Co. will post 11.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Monday, October 29th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, October 26th. This represents a $2.16 annualized dividend and a dividend yield of 2.28%. Celanese’s payout ratio is 28.76%.

WARNING: This piece of content was reported by Markets Daily and is owned by of Markets Daily. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.themarketsdaily.com/2018/12/07/celanese-co-ce-stake-lessened-by-marshall-wace-north-america-l-p.html.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

See Also: Understanding debt-to-equity ratio in fundamental analysis

Institutional Ownership by Quarter for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply