Traders Purchase Large Volume of Celanese Put Options (CE)

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Celanese Co. (NYSE:CE) was the target of some unusual options trading activity on Thursday. Investors bought 1,175 put options on the company. This is an increase of approximately 1,099% compared to the typical volume of 98 put options.

NYSE:CE opened at $99.62 on Friday. Celanese has a 12-month low of $95.45 and a 12-month high of $119.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.39. The stock has a market capitalization of $13.47 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.30.

Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.22. Celanese had a net margin of 16.57% and a return on equity of 37.74%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that Celanese will post 10.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Monday, October 29th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, October 26th. Celanese’s dividend payout ratio (DPR) is presently 28.76%.

A number of large investors have recently bought and sold shares of CE. Principal Financial Group Inc. raised its position in Celanese by 22.9% in the first quarter. Principal Financial Group Inc. now owns 171,982 shares of the basic materials company’s stock worth $17,234,000 after purchasing an additional 32,101 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Celanese by 23.8% during the first quarter. Commonwealth Equity Services LLC now owns 5,584 shares of the basic materials company’s stock worth $559,000 after buying an additional 1,073 shares during the last quarter. Blair William & Co. IL grew its stake in Celanese by 33.4% during the first quarter. Blair William & Co. IL now owns 2,884 shares of the basic materials company’s stock worth $289,000 after buying an additional 722 shares during the last quarter. Jane Street Group LLC bought a new stake in Celanese during the first quarter worth about $403,000. Finally, Guggenheim Capital LLC grew its stake in Celanese by 139.4% during the first quarter. Guggenheim Capital LLC now owns 48,226 shares of the basic materials company’s stock worth $4,832,000 after buying an additional 28,078 shares during the last quarter. 94.96% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on CE. Vertical Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday. Zacks Investment Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Thursday, October 4th. Barclays upped their price objective on shares of Celanese from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. ValuEngine lowered shares of Celanese from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Citigroup cut their price objective on shares of Celanese from $134.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $123.11.

About Celanese

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.

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