35,539 Shares in Celanese Corporation $CE Acquired by Bank of Nova Scotia

Bank of Nova Scotia acquired a new stake in shares of Celanese Corporation (NYSE:CE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,539 shares of the basic materials company's stock, valued at approximately $2,337,000.

Other large investors have also made changes to their positions in the company. Sei Investments Co. raised its holdings in shares of Celanese by 55.5% during the first quarter. Sei Investments Co. now owns 184,226 shares of the basic materials company's stock worth $12,117,000 after purchasing an additional 65,772 shares during the last quarter. Lido Advisors LLC acquired a new stake in Celanese during the 1st quarter worth about $285,000. Impala Asset Management LLC purchased a new position in shares of Celanese during the 1st quarter valued at about $7,235,000. First Citizens Bank & Trust Co. purchased a new position in shares of Celanese during the 1st quarter valued at about $1,348,000. Finally, First Trust Advisors LP lifted its holdings in shares of Celanese by 41.7% in the 1st quarter. First Trust Advisors LP now owns 63,416 shares of the basic materials company's stock valued at $4,171,000 after buying an additional 18,677 shares during the period. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Down 1.3%

CE stock opened at $43.82 on Wednesday. The stock has a market capitalization of $4.81 billion, a P/E ratio of -4.38, a P/E/G ratio of 0.27 and a beta of 0.76. The firm has a 50-day simple moving average of $49.57 and a 200-day simple moving average of $54.03. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 2.41. Celanese Corporation has a 52 week low of $35.13 and a 52 week high of $70.70.

Celanese (NYSE:CE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.03). Celanese had a positive return on equity of 9.92% and a negative net margin of 11.54%.The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the company earned $0.57 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. Celanese has set its Q2 2026 guidance at 2.000-2.400 EPS. Equities analysts forecast that Celanese Corporation will post 6.01 earnings per share for the current fiscal year.

Celanese Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, July 28th. Celanese's dividend payout ratio (DPR) is -1.20%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CE. Wells Fargo & Company raised their target price on Celanese from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on Celanese from $53.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Citigroup lowered their price objective on Celanese from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. BMO Capital Markets cut their target price on shares of Celanese from $80.00 to $57.00 and set a "market perform" rating for the company in a report on Monday, July 6th. Finally, Zacks Research upgraded shares of Celanese from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Celanese currently has a consensus rating of "Moderate Buy" and an average price target of $65.94.

Celanese 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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