Envestnet Portfolio Solutions Inc. Purchases 22,520 Shares of Celanese Corporation (NYSE:CE)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Celanese Corporation (NYSE:CE - Free Report) by 438.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,653 shares of the basic materials company's stock after purchasing an additional 22,520 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Celanese were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of Celanese by 100.3% during the 4th quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company's stock worth $942,506,000 after buying an additional 6,818,993 shares during the period. Invesco Ltd. grew its position in shares of Celanese by 105.0% during the 4th quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company's stock worth $274,714,000 after buying an additional 2,033,025 shares during the period. Turtle Creek Asset Management Inc. grew its position in shares of Celanese by 266.7% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company's stock worth $242,681,000 after buying an additional 2,550,334 shares during the period. Norges Bank acquired a new position in shares of Celanese during the 4th quarter worth about $222,815,000. Finally, Geode Capital Management LLC grew its position in shares of Celanese by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,679,670 shares of the basic materials company's stock worth $184,998,000 after buying an additional 73,498 shares during the period. 98.87% of the stock is owned by institutional investors.

Insider Activity at Celanese

In other Celanese news, SVP Mark Christopher Murray purchased 1,479 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $52.18 per share, for a total transaction of $77,174.22. Following the purchase, the senior vice president now owns 15,468 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 0.26% of the stock is owned by company insiders.

Celanese Stock Up 2.6%

Shares of Celanese stock traded up $1.42 on Tuesday, reaching $56.02. 1,057,644 shares of the company were exchanged, compared to its average volume of 2,260,129. Celanese Corporation has a one year low of $36.29 and a one year high of $147.86. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of -3.68, a PEG ratio of 2.09 and a beta of 1.13. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average of $50.75 and a 200 day moving average of $57.54.

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

Celanese Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Alembic Global Advisors upgraded Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Wells Fargo & Company upgraded Celanese from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $45.00 to $66.00 in a research report on Monday, June 16th. UBS Group decreased their price objective on Celanese from $60.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Evercore ISI decreased their price objective on Celanese from $85.00 to $75.00 and set an "in-line" rating for the company in a research report on Monday, March 24th. Finally, Wall Street Zen upgraded Celanese from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Celanese currently has a consensus rating of "Hold" and an average price target of $63.11.

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.