Piedmont Investment Advisors Inc. lifted its stake in Celanese Co. (NYSE:CE) by 61,442.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,693 shares of the basic materials company’s stock after purchasing an additional 11,674 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Celanese were worth $1,333,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new position in Celanese in the 2nd quarter worth approximately $100,000. First Bank & Trust increased its holdings in Celanese by 106.4% in the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after buying an additional 563 shares during the period. Parallel Advisors LLC increased its holdings in Celanese by 875.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock worth $133,000 after buying an additional 1,050 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Celanese by 93.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after buying an additional 699 shares during the period. Finally, Squar Milner Financial Services LLC acquired a new position in Celanese in the 2nd quarter worth approximately $173,000. 97.20% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Celanese from $131.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. 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 note on Monday, July 30th. KeyCorp raised their price objective on shares of Celanese from $141.00 to $145.00 and gave the stock a “$113.06” rating in a research note on Monday, July 23rd. 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 note on Monday, July 23rd. Finally, Morgan Stanley raised their price objective on shares of Celanese from $112.00 to $120.00 and gave the stock a “$113.06” rating in a research note on Monday, July 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $121.67.

Shares of NYSE CE opened at $102.47 on Monday. The company has a market cap of $13.70 billion, a PE ratio of 13.64, a PEG ratio of 0.92 and a beta of 1.39. Celanese Co. has a 12 month low of $92.68 and a 12 month high of $119.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.22. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the company earned $1.93 EPS. The business’s revenue was up 13.1% on a year-over-year basis. As a group, analysts forecast that Celanese Co. will post 11.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were paid a $0.54 dividend. The ex-dividend date was Friday, October 26th. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. Celanese’s dividend payout ratio is currently 28.76%.

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Celanese Profile

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.

Read More: Understanding each part of a balance sheet

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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