Federated Hermes Inc. Purchases 1,781,837 Shares of Celanese Corporation (NYSE:CE)

Federated Hermes Inc. boosted its holdings in shares of Celanese Corporation (NYSE:CE - Free Report) by 9,132.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,801,349 shares of the basic materials company's stock after purchasing an additional 1,781,837 shares during the period. Federated Hermes Inc. owned 1.65% of Celanese worth $102,263,000 as of its most recent SEC filing.

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

Celanese Price Performance

NYSE:CE traded down $3.64 during midday trading on Friday, hitting $48.59. 2,774,839 shares of the stock were exchanged, compared to its average volume of 1,567,554. Celanese Corporation has a one year low of $36.29 and a one year high of $142.54. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -3.19, a P/E/G ratio of 1.96 and a beta of 1.14. The business has a 50-day moving average price of $56.58 and a two-hundred day moving average price of $55.64. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 2.20.

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

Celanese Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Tuesday, July 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, July 29th. Celanese's payout ratio is presently -0.79%.

Insiders Place Their Bets

In related news, SVP Mark Christopher Murray purchased 1,479 shares of the stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $52.18 per share, for a total transaction of $77,174.22. Following the acquisition, the senior vice president directly owned 15,468 shares in the company, valued at approximately $807,120.24. The trade was a 10.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on CE shares. Barclays increased their price target on shares of Celanese from $59.00 to $62.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded Celanese from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Citigroup upped their price objective on Celanese from $52.00 to $65.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $63.00 price target (up previously from $53.00) on shares of Celanese in a report on Thursday, July 3rd. Finally, UBS Group increased their price target on Celanese from $51.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Celanese currently has an average rating of "Hold" and a consensus price target of $66.50.

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.