Stock Traders Buy High Volume of Celanese Put Options (CE)

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Celanese Co. (NYSE:CE) was the target of some unusual options trading on Thursday. Traders acquired 1,175 put options on the stock. This represents an increase of approximately 1,099% compared to the average volume of 98 put options.

A number of institutional investors have recently modified their holdings of CE. New York State Teachers Retirement System acquired a new position in Celanese during the second quarter worth $100,000. First Bank & Trust lifted its stake in Celanese by 106.4% during the third quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 563 shares in the last quarter. Parallel Advisors LLC lifted its stake in Celanese by 875.0% during the third quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,050 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Celanese by 93.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 699 shares in the last quarter. Finally, Squar Milner Financial Services LLC acquired a new position in Celanese during the second quarter worth $173,000. Institutional investors own 96.11% of the company’s stock.

Shares of CE stock traded down $2.16 during trading hours on Friday, reaching $102.76. The company had a trading volume of 1,240,621 shares, compared to its average volume of 1,585,216. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.08 and a quick ratio of 1.40. The firm has a market capitalization of $14.22 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.39. Celanese has a 12-month low of $92.68 and a 12-month high of $119.29.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 earnings per share 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 analyst estimates of $1.81 billion. Celanese had a return on equity of 39.39% and a net margin of 18.57%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 earnings per share. On average, equities research analysts expect that Celanese will post 11.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Monday, October 29th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, October 26th. This represents a $2.16 annualized dividend and a yield of 2.10%. Celanese’s payout ratio is 28.76%.

Several research firms have weighed in on CE. Cowen boosted their price target on Celanese from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Vertical Research raised Celanese from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday, October 17th. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Thursday, October 4th. Barclays increased their target price on Celanese from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 30th. Finally, ValuEngine cut Celanese from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Celanese presently has a consensus rating of “Buy” and an average price target 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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