Algert Global LLC Invests $6.03 Million in Celanese Corporation $CE

Key Points

• Algert Global LLC has invested approximately $6.03 million in Celanese Corporation, acquiring 106,288 shares during the first quarter.
• Multiple large investors, including Sequoia Financial Advisors and Teacher Retirement System of Texas, have also increased their stakes in Celanese recently, reflecting strong institutional interest.
• Analyst ratings for Celanese show a mixed outlook, with price targets ranging from $45.00 to $72.00, and a consensus rating of "Hold" with a target price of approximately $59.94.

Algert Global LLC bought a new position in shares of Celanese Corporation (NYSE:CE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 106,288 shares of the basic materials company's stock, valued at approximately $6,034,000. Algert Global LLC owned approximately 0.10% of Celanese at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new position in Celanese in the 1st quarter valued at approximately $292,000. Teacher Retirement System of Texas purchased a new position in Celanese during the first quarter worth $907,000. Mather Group LLC. increased its position in Celanese by 127.0% during the first quarter. Mather Group LLC. now owns 622 shares of the basic materials company's stock worth $35,000 after buying an additional 348 shares in the last quarter. Amalgamated Bank increased its position in Celanese by 55.1% during the first quarter. Amalgamated Bank now owns 33,508 shares of the basic materials company's stock worth $1,902,000 after buying an additional 11,905 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Celanese by 20.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,225 shares of the basic materials company's stock worth $2,397,000 after buying an additional 7,275 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CE. BMO Capital Markets set a $47.00 price target on Celanese and gave the stock a "market perform" rating in a research report on Thursday. Wells Fargo & Company dropped their price target on Celanese from $72.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Royal Bank Of Canada set a $45.00 price target on Celanese and gave the stock a "sector perform" rating in a research report on Thursday. Robert W. Baird dropped their price target on Celanese from $67.00 to $50.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. Finally, UBS Group dropped their price target on Celanese from $66.00 to $49.00 and set a "neutral" rating for the company in a research report on Tuesday, August 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $59.94.

Insiders Place Their Bets

In other news, SVP Mark Christopher Murray bought 1,479 shares of Celanese stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of $52.18 per share, for a total transaction of $77,174.22. Following the completion of the acquisition, the senior vice president owned 15,468 shares of the company's stock, valued at $807,120.24. The trade was a 10.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company's stock.

Celanese Price Performance

Shares of Celanese stock opened at $42.54 on Monday. Celanese Corporation has a twelve month low of $36.29 and a twelve month high of $142.54. The stock has a market capitalization of $4.65 billion, a P/E ratio of -2.87, a PEG ratio of 1.82 and a beta of 1.10. The company has a current ratio of 2.05, a quick ratio of 1.22 and a debt-to-equity ratio of 2.22. The business's fifty day moving average price is $54.94 and its 200 day moving average price is $53.51.

Celanese (NYSE:CE - Get Free Report) last issued its earnings results on Monday, August 11th. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.06. Celanese had a positive return on equity of 10.48% and a negative net margin of 16.30%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the firm earned $2.38 earnings per share. The firm's revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Celanese Corporation will post 8.79 earnings per share for the current year.

Celanese Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Tuesday, July 29th were issued a $0.03 dividend. The ex-dividend date was Tuesday, July 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Celanese's dividend payout ratio (DPR) is presently -0.81%.

Celanese Profile

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.

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