Celanese Co. (NYSE:CE) SVP Purchases $214,580.00 in Stock

Celanese Co. (NYSE:CE – Get Rating) SVP Thomas Francis Kelly bought 2,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was bought at an average price of $107.29 per share, for a total transaction of $214,580.00. Following the acquisition, the senior vice president now directly owns 47,165 shares of the company’s stock, valued at $5,060,332.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Celanese Stock Performance

Shares of CE opened at $106.26 on Friday. The firm has a market cap of $11.56 billion, a PE ratio of 7.82, a PEG ratio of 6.01 and a beta of 1.31. The stock’s fifty day moving average price is $105.36 and its two-hundred day moving average price is $109.32. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.67 and a quick ratio of 0.96. Celanese Co. has a 1 year low of $86.71 and a 1 year high of $161.37.

Celanese (NYSE:CE – Get Rating) last issued its earnings results on Tuesday, May 9th. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.35. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.88 billion. Celanese had a return on equity of 23.75% and a net margin of 14.85%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.54 earnings per share. On average, equities research analysts forecast that Celanese Co. will post 11.26 EPS for the current year.

Celanese Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, April 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.64%. Celanese’s payout ratio is 20.60%.

Institutional Trading of Celanese

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raleigh Capital Management Inc. raised its stake in shares of Celanese by 4.6% during the 1st quarter. Raleigh Capital Management Inc. now owns 2,699 shares of the basic materials company’s stock valued at $294,000 after purchasing an additional 119 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Celanese during the 1st quarter valued at $273,000. Trivant Custom Portfolio Group LLC bought a new stake in shares of Celanese during the 1st quarter valued at $33,000. Advisory Services Network LLC raised its stake in shares of Celanese by 2.2% during the 1st quarter. Advisory Services Network LLC now owns 13,101 shares of the basic materials company’s stock valued at $1,427,000 after purchasing an additional 279 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Celanese by 29.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,967 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 444 shares during the period. 92.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CE has been the topic of a number of recent research reports. Barclays dropped their target price on Celanese from $150.00 to $146.00 in a report on Thursday, May 11th. Wells Fargo & Company dropped their target price on Celanese from $140.00 to $124.00 in a report on Thursday, May 11th. Royal Bank of Canada dropped their target price on Celanese from $139.00 to $131.00 and set an “outperform” rating on the stock in a report on Tuesday, February 28th. Credit Suisse Group raised their target price on Celanese from $83.00 to $100.00 and gave the company an “underperform” rating in a report on Friday, February 24th. Finally, Piper Sandler upgraded Celanese from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $105.00 to $120.00 in a report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $124.77.

Celanese Company Profile

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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.