27,869 Celanese Corporation $CE Shares Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP raised its stake in Celanese Corporation (NYSE:CE) by 253,354.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,880 shares of the basic materials company’s stock after acquiring an additional 27,869 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Celanese were worth $1,250,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Celanese during the 2nd quarter worth approximately $614,675,000. Turtle Creek Asset Management Inc. lifted its stake in Celanese by 18.1% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,547,744 shares of the basic materials company’s stock valued at $167,565,000 after purchasing an additional 391,204 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Celanese by 83.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,187,235 shares of the basic materials company’s stock valued at $143,849,000 after buying an additional 993,193 shares in the last quarter. Bank of America Corp DE acquired a new stake in Celanese in the second quarter valued at approximately $62,580,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Celanese in the second quarter valued at approximately $44,564,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Celanese Stock Up 4.8%

Shares of NYSE CE opened at $51.30 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 2.19. The firm has a market cap of $5.63 billion, a PE ratio of 8.71, a P/E/G ratio of 0.34 and a beta of 0.72. The company’s fifty day simple moving average is $46.67 and its 200 day simple moving average is $51.47. Celanese Corporation has a 12-month low of $35.13 and a 12-month high of $70.70.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, November 2nd. The basic materials company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. Celanese had a return on equity of 13.63% and a net margin of 2.66%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the business earned $1.34 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Celanese Corporation will post 6.13 earnings per share for the current fiscal year.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, October 27th. Celanese’s dividend payout ratio (DPR) is presently 5.06%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CE. KeyCorp increased their price target on Celanese from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday. BMO Capital Markets restated a “market perform” rating and set a $58.00 price objective on shares of Celanese in a research report on Monday. Wells Fargo & Company lowered their target price on Celanese from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. UBS Group upped their target price on Celanese from $53.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Deutsche Bank set a $50.00 price target on Celanese in a research note on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.56.

About Celanese

Celanese Corporation is a global chemicals and specialty materials company that develops and manufactures engineered polymers and acetyl-based products. Its materials are used in applications across industries including automotive, consumer goods, medical, industrial, paints and coatings, and adhesives. The company’s portfolio includes engineered thermoplastics and other polymers, as well as acetyl products such as acetic acid, vinyl acetate monomer, and related emulsions and derivatives. These materials are used in products ranging from vehicle components and medical devices to packaging, coatings, and construction materials.