656 Shares in Celanese Co. (NYSE:CE) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC purchased a new position in Celanese Co. (NYSE:CE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 656 shares of the basic materials company’s stock, valued at approximately $89,000.

Several other institutional investors have also recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in Celanese in the 1st quarter valued at $31,000. Fairscale Capital LLC bought a new position in Celanese during the second quarter valued at approximately $28,000. LRI Investments LLC purchased a new position in Celanese during the 1st quarter valued at approximately $31,000. Key Financial Inc increased its stake in Celanese by 3,933.3% in the 2nd quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 236 shares during the last quarter. Finally, Register Financial Advisors LLC purchased a new stake in shares of Celanese during the 1st quarter worth approximately $49,000. Institutional investors own 98.87% of the company’s stock.

Insider Transactions at Celanese

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $129.51, for a total transaction of $605,459.25. Following the completion of the transaction, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Wells Fargo & Company lowered their price target on shares of Celanese from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, August 5th. UBS Group cut their target price on Celanese from $193.00 to $184.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, KeyCorp lowered shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $152.87.

Celanese Price Performance

Shares of NYSE CE opened at $131.38 on Wednesday. Celanese Co. has a fifty-two week low of $110.76 and a fifty-two week high of $172.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.74 and a current ratio of 1.28. The company has a market cap of $14.35 billion, a PE ratio of 7.23, a P/E/G ratio of 0.70 and a beta of 1.30. The business has a 50-day simple moving average of $129.99 and a two-hundred day simple moving average of $140.23.

Celanese (NYSE:CE) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.33). Celanese had a net margin of 18.24% and a return on equity of 13.60%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the company posted $2.17 EPS. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts expect that Celanese Co. will post 10.32 EPS for the current fiscal year.

Celanese Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, October 30th. Celanese’s dividend payout ratio is presently 15.41%.

About Celanese

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.