Pine Valley Investments Ltd Liability Co Acquires 3,906 Shares of Celanese Co. (NYSE:CE)

Pine Valley Investments Ltd Liability Co raised its holdings in shares of Celanese Co. (NYSE:CE) by 29.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,397 shares of the basic materials company’s stock after acquiring an additional 3,906 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Celanese were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in shares of Celanese by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,813 shares of the basic materials company’s stock valued at $380,000 after acquiring an additional 108 shares during the period. ORG Partners LLC bought a new position in shares of Celanese in the second quarter worth $40,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Celanese by 5.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,621 shares of the basic materials company’s stock worth $758,000 after purchasing an additional 295 shares during the period. AdvisorNet Financial Inc raised its position in shares of Celanese by 54.6% in the second quarter. AdvisorNet Financial Inc now owns 1,538 shares of the basic materials company’s stock worth $207,000 after buying an additional 543 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Celanese by 33.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,826 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Price Performance

Shares of NYSE CE opened at $68.88 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. Celanese Co. has a 1 year low of $67.64 and a 1 year high of $172.16. The company’s 50-day moving average is $99.97 and its 200 day moving average is $122.68. The stock has a market capitalization of $7.53 billion, a P/E ratio of 6.93, a P/E/G ratio of 0.75 and a beta of 1.17.

Celanese (NYSE:CE) last posted its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. On average, sell-side analysts expect that Celanese Co. will post 8.38 earnings per share for the current year.

Celanese Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Wednesday, October 30th. Celanese’s dividend payout ratio (DPR) is presently 28.17%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CE shares. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and reduced their target price for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Vertical Research downgraded shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, October 29th. Piper Sandler lowered shares of Celanese from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $150.00 to $98.00 in a report on Friday, November 8th. KeyCorp lowered shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group lowered their price target on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $116.56.

Celanese Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.