Celanese Corporation (NYSE:CE – Get Free Report) announced a quarterly dividend on Wednesday, July 15th. Stockholders of record on Tuesday, July 28th will be given a dividend of 0.03 per share by the basic materials company on Monday, August 10th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, July 28th.
Celanese has decreased its dividend by an average of 0.5%per year over the last three years. Celanese has a dividend payout ratio of 1.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Celanese to earn $6.38 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 1.9%.
Celanese Price Performance
Shares of Celanese stock opened at $45.77 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 2.41. The firm has a fifty day simple moving average of $51.42 and a 200-day simple moving average of $53.86. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -4.57, a PEG ratio of 0.27 and a beta of 0.76. Celanese has a 1-year low of $35.13 and a 1-year high of $70.70.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its stake in Celanese by 4.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 31,100 shares of the basic materials company’s stock worth $1,431,000 after buying an additional 1,400 shares during the period. Moody National Bank Trust Division boosted its position in shares of Celanese by 25.5% during the second quarter. Moody National Bank Trust Division now owns 22,581 shares of the basic materials company’s stock worth $1,039,000 after buying an additional 4,594 shares during the period. Versant Capital Management Inc grew its holdings in shares of Celanese by 119.5% during the second quarter. Versant Capital Management Inc now owns 2,250 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,225 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in Celanese by 8.4% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 836,733 shares of the basic materials company’s stock valued at $55,032,000 after buying an additional 65,155 shares during the last quarter. Finally, First Nebraska Trust Co bought a new stake in Celanese in the 1st quarter valued at approximately $323,000. Institutional investors and hedge funds own 98.87% of the company’s stock.
Celanese Company Profile
Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.
In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.
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