Usca Ria LLC Takes Position in Celanese Co. (NYSE:CE)

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Usca Ria LLC purchased a new stake in Celanese Co. (NYSE:CE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,700 shares of the basic materials company’s stock, valued at approximately $2,770,000.

Other hedge funds have also recently made changes to their positions in the company. Institute for Wealth Management LLC. acquired a new stake in Celanese in the 2nd quarter worth about $205,000. Hillsdale Investment Management Inc. acquired a new stake in Celanese in the 2nd quarter worth about $506,000. Penobscot Investment Management Company Inc. lifted its stake in shares of Celanese by 3.5% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 14,987 shares of the basic materials company’s stock valued at $1,615,000 after purchasing an additional 500 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Celanese by 14.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 28,736 shares of the basic materials company’s stock valued at $3,098,000 after purchasing an additional 3,531 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Celanese in the 2nd quarter valued at about $590,000. Institutional investors and hedge funds own 96.45% of the company’s stock.

Shares of NYSE:CE traded up $2.86 during mid-day trading on Friday, hitting $110.30. 682,800 shares of the company traded hands, compared to its average volume of 1,038,122. The firm has a market cap of $13.29 billion, a P/E ratio of 10.03, a PEG ratio of 1.05 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.32 and a current ratio of 2.04. Celanese Co. has a 52-week low of $82.91 and a 52-week high of $119.29. The firm’s 50 day simple moving average is $107.91 and its 200 day simple moving average is $103.59.

Celanese (NYSE:CE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.36 by $0.02. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The company’s revenue was down 13.7% on a year-over-year basis. During the same period last year, the business posted $2.90 EPS. Equities research analysts expect that Celanese Co. will post 10.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 26th were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $2.48 annualized dividend and a yield of 2.25%. Celanese’s dividend payout ratio is presently 22.55%.

Several research firms have recently weighed in on CE. Nomura reduced their price objective on Celanese from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird lifted their price objective on Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Citigroup set a $122.00 price objective on Celanese and gave the company a “buy” rating in a research note on Monday, July 15th. Deutsche Bank lifted their price objective on Celanese from $115.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Vertical Research lowered Celanese from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $117.87.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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