ING Groep NV Purchases 245,700 Shares of Celanese Corporation $CE

ING Groep NV boosted its position in shares of Celanese Corporation (NYSE:CE) by 602.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 286,500 shares of the basic materials company’s stock after buying an additional 245,700 shares during the quarter. ING Groep NV owned approximately 0.26% of Celanese worth $12,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of Celanese by 182.1% in the second quarter. Federated Hermes Inc. now owns 5,081,458 shares of the basic materials company’s stock valued at $281,157,000 after acquiring an additional 3,280,109 shares during the period. State Street Corp increased its holdings in Celanese by 3.2% during the 2nd quarter. State Street Corp now owns 3,828,747 shares of the basic materials company’s stock valued at $211,845,000 after purchasing an additional 120,208 shares during the period. Norges Bank purchased a new position in Celanese during the 2nd quarter valued at about $114,934,000. Geode Capital Management LLC raised its position in Celanese by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,866,515 shares of the basic materials company’s stock valued at $103,301,000 after purchasing an additional 13,042 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Celanese by 103.7% in the 2nd quarter. Bank of America Corp DE now owns 1,645,689 shares of the basic materials company’s stock worth $91,056,000 after buying an additional 837,944 shares during the period. Institutional investors own 98.87% of the company’s stock.

Celanese Trading Up 4.0%

Shares of NYSE CE opened at $60.65 on Thursday. Celanese Corporation has a 1 year low of $35.13 and a 1 year high of $70.51. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.63 and a quick ratio of 1.04. The firm has a 50-day moving average of $45.39 and a 200 day moving average of $44.00. The stock has a market cap of $6.64 billion, a P/E ratio of -2.15 and a beta of 1.12.

Celanese Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, February 24th. Celanese’s dividend payout ratio (DPR) is -0.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CE shares. Weiss Ratings reissued a “sell (d)” rating on shares of Celanese in a research note on Wednesday, January 21st. Evercore reduced their price objective on shares of Celanese from $75.00 to $45.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. UBS Group raised their target price on shares of Celanese from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Tudor Pickering upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada increased their price target on shares of Celanese from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Friday, January 16th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.44.

Insider Transactions at Celanese

In related news, CFO Chuck Kyrish acquired 5,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of $41.03 per share, for a total transaction of $205,150.00. Following the completion of the purchase, the chief financial officer owned 10,914 shares of the company’s stock, valued at $447,801.42. This represents a 84.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Celanese Profile

Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.

In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.