Public Sector Pension Investment Board Buys 54,144 Shares of Celanese Corporation $CE

Public Sector Pension Investment Board boosted its position in shares of Celanese Corporation (NYSE:CE) by 14.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 427,147 shares of the basic materials company’s stock after buying an additional 54,144 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.39% of Celanese worth $17,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CE. Geneos Wealth Management Inc. raised its stake in shares of Celanese by 111.1% during the second quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 270 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Celanese by 55.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 623 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Celanese by 140.4% in the 3rd quarter. Versant Capital Management Inc now owns 827 shares of the basic materials company’s stock worth $35,000 after buying an additional 483 shares during the period. Salomon & Ludwin LLC purchased a new stake in Celanese in the 3rd quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Celanese by 100.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 662 shares of the basic materials company’s stock worth $38,000 after buying an additional 331 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CE shares. Morgan Stanley assumed coverage on Celanese in a report on Tuesday, January 20th. They set an “equal weight” rating and a $50.00 target price for the company. Zacks Research lowered shares of Celanese from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Evercore dropped their target price on shares of Celanese from $75.00 to $45.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Tudor Pickering upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Celanese in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.44.

Celanese Stock Performance

Celanese stock opened at $58.82 on Friday. Celanese Corporation has a twelve month low of $35.13 and a twelve month high of $70.51. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $6.44 billion, a P/E ratio of -2.08 and a beta of 1.12. The stock’s 50 day moving average is $46.13 and its 200 day moving average is $44.02.

Celanese Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.12 annualized dividend and a yield of 0.2%. Celanese’s payout ratio is -0.42%.

Insider Activity

In other news, CFO Chuck Kyrish acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was bought at an average cost of $41.03 per share, for a total transaction of $205,150.00. Following the acquisition, the chief financial officer directly owned 10,914 shares in the company, valued at approximately $447,801.42. The trade was a 84.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

About Celanese

Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.

In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.