Vise Technologies Inc. Acquires 12,106 Shares of Celanese Corporation $CE

Vise Technologies Inc. bought a new position in shares of Celanese Corporation (NYSE:CE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,106 shares of the basic materials company’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Celanese during the 2nd quarter worth $614,675,000. Turtle Creek Asset Management Inc. raised its stake in shares of Celanese by 18.1% in the first quarter. Turtle Creek Asset Management Inc. now owns 2,547,744 shares of the basic materials company’s stock valued at $167,565,000 after buying an additional 391,204 shares during the period. Dimensional Fund Advisors LP raised its stake in Celanese by 83.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,187,235 shares of the basic materials company’s stock valued at $143,849,000 after acquiring an additional 993,193 shares during the period. Bank of America Corp DE bought a new stake in shares of Celanese in the second quarter valued at approximately $62,580,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Celanese in the second quarter valued at approximately $44,564,000. 98.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CE. BMO Capital Markets reiterated a “market perform” rating and set a $58.00 price objective on shares of Celanese in a research note on Monday. Wall Street Zen raised Celanese from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. KeyCorp raised their price target on Celanese from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Celanese from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Finally, Mizuho set a $50.00 price objective on shares of Celanese in a report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.56.

Celanese Trading Up 4.8%

Shares of CE opened at $51.30 on Thursday. Celanese Corporation has a 1-year low of $35.13 and a 1-year high of $70.70. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 2.19. The firm’s 50-day moving average price is $46.67 and its 200-day moving average price is $51.47. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 0.34 and a beta of 0.72.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, November 2nd. The basic materials company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.09. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Celanese had a return on equity of 13.63% and a net margin of 2.66%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. Sell-side analysts anticipate that Celanese Corporation will post 6.13 EPS for the current year.

Celanese Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Shareholders of record on Tuesday, October 27th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, October 27th. Celanese’s payout ratio is 5.06%.

About Celanese

Celanese Corporation is a global chemicals and specialty materials company that develops and manufactures engineered polymers and acetyl-based products. Its materials are used in applications across industries including automotive, consumer goods, medical, industrial, paints and coatings, and adhesives. The company’s portfolio includes engineered thermoplastics and other polymers, as well as acetyl products such as acetic acid, vinyl acetate monomer, and related emulsions and derivatives. These materials are used in products ranging from vehicle components and medical devices to packaging, coatings, and construction materials.