APG Asset Management N.V. reduced its stake in Celanese Co. (NYSE:CE) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,947 shares of the basic materials company’s stock after selling 22,369 shares during the period. APG Asset Management N.V. owned 0.46% of Celanese worth $65,956,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Twin Lakes Capital Management LLC acquired a new stake in shares of Celanese in the 1st quarter worth approximately $27,000. Solstein Capital LLC acquired a new stake in shares of Celanese in the 1st quarter worth approximately $33,000. Bbva USA acquired a new stake in shares of Celanese in the 2nd quarter worth approximately $36,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Celanese in the 2nd quarter worth approximately $70,000. Finally, Archer Investment Corp acquired a new stake in Celanese during the second quarter valued at approximately $93,000. 93.16% of the stock is owned by institutional investors.
Several analysts recently commented on the stock. Barclays increased their target price on shares of Celanese from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, July 26th. Vertical Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research note on Monday, July 26th. Zacks Investment Research lowered shares of Celanese from a “strong-buy” rating to a “hold” rating and set a $177.00 target price for the company. in a research note on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and increased their target price for the company from $168.00 to $175.00 in a research note on Thursday, July 1st. Finally, Wells Fargo & Company increased their target price on shares of Celanese from $186.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, October 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $170.25.
Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, July 22nd. The basic materials company reported $5.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.49 by $0.53. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $1.95 billion. Celanese had a net margin of 36.01% and a return on equity of 38.64%. The company’s revenue for the quarter was up 84.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. Equities analysts anticipate that Celanese Co. will post 16.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Shareholders of record on Monday, July 26th were paid a $0.68 dividend. The ex-dividend date was Friday, July 23rd. This represents a $2.72 annualized dividend and a yield of 1.71%. Celanese’s dividend payout ratio is presently 35.60%.
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.
Recommended Story: What is the Quick Ratio?
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.