Bank of New York Mellon Corp Sells 27,596 Shares of Celanese Corporation (NYSE:CE)

Bank of New York Mellon Corp reduced its stake in shares of Celanese Corporation (NYSE:CE - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 821,022 shares of the basic materials company's stock after selling 27,596 shares during the period. Bank of New York Mellon Corp owned approximately 0.75% of Celanese worth $46,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CE. Focus Partners Wealth increased its position in shares of Celanese by 3.9% during the fourth quarter. Focus Partners Wealth now owns 4,197 shares of the basic materials company's stock worth $291,000 after acquiring an additional 156 shares during the last quarter. United Capital Financial Advisors LLC grew its stake in shares of Celanese by 2.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 6,167 shares of the basic materials company's stock worth $427,000 after purchasing an additional 172 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Celanese by 6.8% during the fourth quarter. Tidal Investments LLC now owns 3,263 shares of the basic materials company's stock valued at $226,000 after purchasing an additional 209 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Celanese by 1.8% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 13,442 shares of the basic materials company's stock valued at $924,000 after buying an additional 242 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Celanese by 1.8% in the 4th quarter. Janus Henderson Group PLC now owns 14,024 shares of the basic materials company's stock worth $971,000 after purchasing an additional 251 shares during the period. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Stock Performance

NYSE CE traded down $1.76 during trading hours on Tuesday, hitting $57.51. The company had a trading volume of 1,884,330 shares, compared to its average volume of 2,309,331. The business has a 50 day moving average of $55.53 and a 200-day moving average of $56.52. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.11 and a current ratio of 1.94. Celanese Corporation has a 1-year low of $36.29 and a 1-year high of $147.86. The company has a market cap of $6.29 billion, a PE ratio of -3.78, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14.

Celanese (NYSE:CE - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.20. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a negative net margin of 16.54% and a positive return on equity of 11.28%. The business's revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. As a group, equities research analysts expect that Celanese Corporation will post 8.79 EPS for the current year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were paid a $0.03 dividend. The ex-dividend date was Monday, April 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. Celanese's dividend payout ratio (DPR) is presently -0.79%.

Analyst Ratings Changes

Several brokerages recently commented on CE. UBS Group boosted their price target on Celanese from $51.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Piper Sandler reissued an "underweight" rating and set a $48.00 price objective (down previously from $50.00) on shares of Celanese in a research note on Monday, April 7th. Wall Street Zen upgraded Celanese from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, BMO Capital Markets upgraded shares of Celanese from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $46.00 to $55.00 in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Celanese currently has an average rating of "Hold" and an average price target of $66.50.

Insider Buying and Selling

In other Celanese news, SVP Mark Christopher Murray bought 1,479 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $52.18 per share, for a total transaction of $77,174.22. Following the transaction, the senior vice president directly owned 15,468 shares in the company, valued at $807,120.24. The trade was a 10.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company's stock.

Celanese Company 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.