According to the most recent report Van ECK Associates Corp. submitted to the Securities and Exchange Commission, during the third quarter of 2015, the firm increased the total amount of money it had invested in Celanese Co. (NYSE: C.E.) by 6.2%. The company increased its ownership stake in the basic materials company during the quarter by purchasing an additional 859 shares of its stock, bringing the total number of shares it owns to 14,823. Van ECK Associates Corp. had a holding in Celanese worth $1,339,000 in the company’s stock at the end of the most recent reporting period.
Furthermore, the number of C.E. holdings held by other significant investors has been reduced. During the second quarter, BNP Paribas Arbitrage S.A. achieved an increase of 88.1% in the proportion of Celanese stock it owned. Following the acquisition of an additional 77,034 shares during the relevant period, BNP Paribas Arbitrage S.A. now holds 164,443 shares of the stock held by the basic materials company. The value of these shares is equal to $19,340,000. As part of its investment portfolio, ING Group NV invested a total of $386,000 in the purchase of new Celanese stock during the second quarter. Pictet Asset Management S.A. increased its percentage of Celanese in its portfolio by 29.6% during the second quarter. After making an additional 16,603 stock purchases throughout the period, Pictet Asset Management S.A. now has a total of 72,626 shares of the stock of the basic materials company in its possession. The value of the stock holdings held by Pictet Asset Management S.A. at present is $8,542,000. During the second quarter, Kentucky Retirement Systems achieved a 16.7 percent increase in the proportion of Celanese stock it owned. After purchasing an additional 1,153 shares during the relevant period, Kentucky Retirement Systems now owns 8,039 shares of stock in the basic materials business. The value of these shares is $945,000. Finally, but certainly not least, during the second quarter of 2018, Edgestream Partners L.P. invested in Celanese shares with a total value of $1,063,000. The vast majority of the stock is owned by hedge funds and other institutional investors, which accounts for 92.54% of the total.
Celanese stock was available for trading for the first time on Monday for $121.29 per share. The company’s beta value of 1.26 is currently worth 13.15 billion dollars on the market. 8.02 is the value of the company’s price-to-earnings ratio. The stock price has had a moving average of $105.03 for the past 50 days and a moving average of $105.38 for the past 200 days. Over the last year and a half, Celanese Company’s share price has not fluctuated much from its current $173.95. There is a ratio of 2.15 debt to equity, a ratio of 4.11 quick ratio to current ratio, and a ratio of 4.73 current ratios to quick ratio. All three ratios are relative to one another.
The most recent quarterly results report was released by Celanese (NYSE: C.E.) on November 3, after the market had closed for the day. The earnings per share for the company that deals in basic materials came in at $3.94 for the most recent quarter, which was $0.04 less than the $3.98 analysts had anticipated for the company’s earnings per share to come in at. The revenue the company brought in for the quarter was $2.30 billion, which is significantly higher than the forecasted revenue of $2.26 billion financial analysts had for the company. The net margin for Celanese was 17.20 percent, and the return on equity for the company was 42.266 percent. Compared to the same quarter that occurred in the previous year, the revenue for this quarter saw a 1.5% increase. The company posted earnings of $4.82 per share during the previous year when those same earnings were reported. According to the forecasts provided by analysts working in the relevant industry, Celanese Company should bring in 16.08 cents per share of profit during the current financial year.
In addition, the company announced the payment of a quarterly dividend on November 14, which was then distributed to shareholders. On Monday, October 31, a dividend payment of $0.70 was made to shareholders with their record date on Monday. This translates to a yield of 2.31% and a dividend payment of $2.80 yearly for every shareholder. The previous $0.68 distributed by Celanese every quarter in the form of dividends has had that amount increased. The date that shareholders were required to pay taxes on this dividend, due the following Monday, was the Friday after the ex-dividend date. Celanese’s dividend payout ratio (DPR) is currently sitting at 18.51 percent.
The company has been the subject of commentary from several stock analysts, each bringing a unique perspective. The target price that Barclays has established for Celanese has increased from $133.00 to $150.00 as a result of the findings of a research report that was released on December 19. In addition to this, they assigned an “overweight” rating to the stock. On Wednesday, October 12, Celanese became part of the coverage that StockNews.com is responsible for providing. They recommended that shareholders “hold” their shares of the company. In a report released on January 4, the Royal Bank of Canada raised its price objective for Celanese from $98.00 to $125.00.
Additionally, they upgraded the company from being rated “sector perform” to “outperform.” Morgan Stanley downgraded Celanese from “equal weight” to “underweight” in a research report published on Wednesday, October 12. Additionally, the firm decreased its target price from $172.00 to $110.00. Bank of America lowered its price target for Celanese in a report released on Tuesday, October 11. The new price target is $117.00, down from $145.00. The final and most significant adjustment was made here. The stock has been rated “buy” by six market analysts, “hold” by six others, and “sell” by two others. Two market analysts have suggested selling the stock, while six others have suggested keeping it in one’s portfolio. According to Bloomberg.com, the current recommendation for the company is “Hold,” and the price target currently projected for the stock is $116.00. In addition, the price target for the stock has been set at $116.00.
In the United States and other countries, Celanese Corporation is a market leader in terms of technology and specialized materials. The company is responsible for the production and distribution of high-performance engineered polymers. The Engineered Materials, Acetate Tow, and Acetyl Chain business segments are the three that contribute to the overall operation of the corporation as a whole. Engineered Materials is responsible for designing, producing, and distributing specialty polymers. These polymers find use in a wide range of industries, such as the medical industry, the automotive industry, and the manufacturing of consumer and industrial electronics.