PNC Financial Services Group Inc. grew its position in shares of Celanese Co. (NYSE:CE) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,034,929 shares of the basic materials company’s stock after purchasing an additional 50,239 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Celanese were worth $117,982,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CE. Standard Life Aberdeen plc lifted its holdings in shares of Celanese by 52.6% during the 2nd quarter. Standard Life Aberdeen plc now owns 2,815,551 shares of the basic materials company’s stock worth $312,695,000 after acquiring an additional 969,914 shares during the period. Millennium Management LLC lifted its holdings in shares of Celanese by 76.2% during the 2nd quarter. Millennium Management LLC now owns 2,005,758 shares of the basic materials company’s stock worth $222,759,000 after acquiring an additional 867,269 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Celanese during the 3rd quarter worth about $45,572,000. Columbus Circle Investors purchased a new position in shares of Celanese during the 2nd quarter worth about $41,462,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Celanese by 21.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock worth $237,621,000 after acquiring an additional 369,361 shares during the period. 97.20% of the stock is currently owned by institutional investors.

NYSE CE opened at $100.26 on Wednesday. Celanese Co. has a one year low of $92.68 and a one year 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. The company has a market capitalization of $13.60 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39.

Celanese (NYSE:CE) last posted its quarterly earnings results on Thursday, October 18th. The basic materials company reported $2.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.22. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm posted $1.93 earnings per share. Celanese’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts predict that Celanese Co. will post 11.1 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were issued a $0.54 dividend. The ex-dividend date was Friday, October 26th. This represents a $2.16 annualized dividend and a yield of 2.15%. Celanese’s payout ratio is 28.76%.

CE has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Celanese from a “strong-buy” rating to a “hold” rating in a report on Monday, September 24th. Nomura cut their price objective on shares of Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. Vertical Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Wednesday, October 17th. Cowen increased their price objective on shares of Celanese from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 26th. Finally, Citigroup cut their price objective on shares of Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $121.67.

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Celanese Company 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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