Assenagon Asset Management S.A. Acquires New Holdings in Celanese Corporation $CE

Key Points

• Assenagon Asset Management acquired 431,163 Celanese shares worth approximately $19.1 million, while institutional investors collectively own 98.87% of the company.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $60.38 versus the stock’s reported price of $47.43.
• Celanese exceeded quarterly earnings expectations, reporting $2.45 in EPS versus $2.23 expected, while revenue rose 8.7% year over year to $2.75 billion; it also declared a $0.03 quarterly dividend.

Assenagon Asset Management S.A. acquired a new position in shares of Celanese Corporation (NYSE:CE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 431,163 shares of the basic materials company's stock, valued at approximately $19,131,000. Assenagon Asset Management S.A. owned 0.39% of Celanese as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Celanese in the 2nd quarter valued at $614,675,000. Turtle Creek Asset Management Inc. lifted its holdings in shares of Celanese by 18.1% during the first quarter. Turtle Creek Asset Management Inc. now owns 2,547,744 shares of the basic materials company's stock worth $167,565,000 after buying an additional 391,204 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Celanese by 83.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,187,235 shares of the basic materials company's stock valued at $143,849,000 after acquiring an additional 993,193 shares during the period. Bank of America Corp DE bought a new stake in shares of Celanese in the second quarter valued at about $62,580,000. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of Celanese by 8.4% in the first 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 acquiring an additional 65,155 shares during the period. Institutional investors own 98.87% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CE shares. Barclays began coverage on shares of Celanese in a report on Monday, October 12th. They set an "equal weight" rating and a $49.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Celanese in a research note on Friday, August 21st. Bank of America cut their price target on Celanese from $72.00 to $63.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Mizuho set a $50.00 price target on Celanese in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft set a $50.00 price target on Celanese in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.38.

Insider Transactions at Celanese

In related news, SVP Mark Murray acquired 2,153 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $45.52 per share, with a total value of $98,004.56. Following the purchase, the senior vice president directly owned 30,432 shares in the company, valued at approximately $1,385,264.64. This trade represents a 7.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

Celanese Price Performance

Celanese stock opened at $47.43 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.87 and a current ratio of 1.45. Celanese Corporation has a 52 week low of $35.13 and a 52 week high of $70.70. The stock has a market capitalization of $5.21 billion, a P/E ratio of -4.44, a price-to-earnings-growth ratio of 0.31 and a beta of 0.76. The stock has a fifty day moving average of $45.44 and a 200-day moving average of $51.02.

Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.22. Celanese had a positive return on equity of 13.04% and a negative net margin of 12.04%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the company earned $1.44 EPS. Celanese's revenue for the quarter was up 8.7% on a year-over-year basis. Celanese has set its Q3 2026 guidance at 1.350-1.750 EPS. On average, sell-side analysts expect that Celanese Corporation will post 5.94 earnings per share for the current fiscal year.

Celanese Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, October 27th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, October 27th. Celanese's dividend payout ratio is currently -1.12%.

Celanese Company Profile

Celanese Corporation NYSE: CE is a global chemical and specialty materials company that develops and manufactures products used in a wide range of industries, including automotive, consumer goods, medical, electronics, food, paints and coatings, and industrial manufacturing. The company serves customers through operations and commercial activities across North America, Europe, Asia and other international markets.

Celanese operates primarily through its Engineered Materials and Acetyl Chain businesses.

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