Quantinno Capital Management LP Purchases 509 Shares of Celanese Co. (NYSE:CE)

Quantinno Capital Management LP lifted its holdings in shares of Celanese Co. (NYSE:CE) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,249 shares of the basic materials company’s stock after purchasing an additional 509 shares during the quarter. Quantinno Capital Management LP’s holdings in Celanese were worth $1,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV raised its holdings in Celanese by 155.5% in the third quarter. KBC Group NV now owns 213,657 shares of the basic materials company’s stock worth $29,049,000 after purchasing an additional 130,037 shares in the last quarter. National Pension Service boosted its holdings in shares of Celanese by 21.7% in the 3rd quarter. National Pension Service now owns 233,480 shares of the basic materials company’s stock worth $31,744,000 after purchasing an additional 41,598 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Celanese by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock worth $134,723,000 after buying an additional 69,606 shares during the period. BNP Paribas Financial Markets raised its position in shares of Celanese by 12.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 147,001 shares of the basic materials company’s stock worth $19,986,000 after acquiring an additional 16,308 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Celanese by 608.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after buying an additional 592,196 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Trading Up 1.2 %

Celanese stock opened at $68.88 on Friday. The stock has a market capitalization of $7.53 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The business’s fifty day moving average is $99.97 and its 200 day moving average is $122.68. Celanese Co. has a one year low of $67.64 and a one year high of $172.16.

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

Celanese Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on CE. Morgan Stanley lowered their price target on Celanese from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. BMO Capital Markets downgraded Celanese from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $138.00 to $76.00 in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft upgraded Celanese from a “hold” rating to a “buy” rating and lowered their price target for the stock from $135.00 to $110.00 in a report on Wednesday, November 6th. Vertical Research lowered 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. Finally, Mizuho lowered their target price on Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Celanese presently has an average rating of “Hold” and an average target price of $116.56.

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.