Seven Eight Capital LP bought a new stake in shares of Celanese Co. (NYSE:CE) in the third quarter, HoldingsChannel reports. The fund bought 33,740 shares of the basic materials company’s stock, valued at approximately $3,846,000.

Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in Celanese during the 2nd quarter valued at approximately $100,000. First Bank & Trust increased its position in Celanese by 106.4% during the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 563 shares during the period. Steward Partners Investment Advisory LLC increased its position in Celanese by 93.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 699 shares during the period. Squar Milner Financial Services LLC acquired a new stake in Celanese during the 2nd quarter valued at approximately $173,000. Finally, Quantum Capital Management acquired a new stake in Celanese during the 2nd quarter valued at approximately $208,000. 94.96% of the stock is owned by institutional investors and hedge funds.

Shares of CE stock opened at $99.62 on Friday. The company has a market cap of $13.45 billion, a PE ratio of 9.37, a P/E/G ratio of 0.93 and a beta of 1.30. Celanese Co. has a 52 week low of $95.45 and a 52 week high of $119.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.39.

Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.74 by $0.22. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.81 billion. Celanese had a net margin of 18.57% and a return on equity of 40.38%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. On average, sell-side analysts expect that Celanese Co. will post 10.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Monday, October 29th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, October 26th. Celanese’s payout ratio is currently 28.76%.

A number of research firms have weighed in on CE. Citigroup increased their target price on shares of Celanese from $131.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. KeyCorp increased their target price on shares of Celanese from $141.00 to $145.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. Barclays raised their price objective on shares of Celanese from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. Alembic Global Advisors set a $103.00 price objective on shares of Celanese and gave the stock a “sell” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Celanese from $110.00 to $114.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Celanese has an average rating of “Buy” and a consensus price target of $123.11.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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