Celanese Co. (NYSE:CE) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

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Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Celanese Co. (NYSE:CE) by 24.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 606,254 shares of the basic materials company’s stock after selling 195,374 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.51% of Celanese worth $52,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP raised its position in Celanese by 14.2% during the first quarter. Wellington Management Group LLP now owns 9,675,863 shares of the basic materials company’s stock worth $710,112,000 after acquiring an additional 1,204,200 shares during the last quarter. Capital International Investors grew its holdings in shares of Celanese by 7.7% during the first quarter. Capital International Investors now owns 7,642,542 shares of the basic materials company’s stock worth $560,886,000 after buying an additional 548,661 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Celanese by 14.3% during the first quarter. Wells Fargo & Company MN now owns 3,124,745 shares of the basic materials company’s stock worth $229,324,000 after buying an additional 390,262 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Celanese by 4.0% during the first quarter. Geode Capital Management LLC now owns 1,982,949 shares of the basic materials company’s stock worth $145,257,000 after buying an additional 75,739 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Celanese by 10.7% during the first quarter. JPMorgan Chase & Co. now owns 1,817,562 shares of the basic materials company’s stock worth $133,390,000 after buying an additional 175,771 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.

A number of equities research analysts have recently commented on CE shares. Stifel Nicolaus lifted their price target on shares of Celanese from $87.00 to $103.00 and gave the stock a “hold” rating in a report on Thursday. Cfra lifted their price target on shares of Celanese from $81.00 to $86.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Wells Fargo & Co upgraded shares of Celanese from an “equal weight” rating to an “overweight” rating and set a $120.00 price target for the company in a report on Friday. Alembic Global Advisors upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Monday, July 27th. Finally, Morgan Stanley boosted their target price on shares of Celanese from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Celanese currently has a consensus rating of “Buy” and an average price target of $105.95.

CE opened at $97.20 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.20 and a debt-to-equity ratio of 1.11. Celanese Co. has a 52-week low of $52.70 and a 52-week high of $128.88. The company has a 50 day moving average of $88.67 and a two-hundred day moving average of $90.07. The company has a market cap of $11.49 billion, a P/E ratio of 11.99, a P/E/G ratio of 5.28 and a beta of 1.37.

Celanese (NYSE:CE) last posted its earnings results on Tuesday, July 28th. The basic materials company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.25. Celanese had a net margin of 11.13% and a return on equity of 33.49%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $2.38 earnings per share. The business’s revenue for the quarter was down 25.1% compared to the same quarter last year. Research analysts anticipate that Celanese Co. will post 6.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.55%. Celanese’s payout ratio is currently 26.02%.

Celanese Company Profile

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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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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