Crewe Advisors LLC Takes $74,000 Position in Celanese Co. (NYSE:CE)

Crewe Advisors LLC bought a new stake in Celanese Co. (NYSE:CE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 431 shares of the basic materials company’s stock, valued at approximately $74,000.

A number of other institutional investors have also added to or reduced their stakes in CE. Johnson Financial Group Inc. bought a new stake in Celanese during the 4th quarter worth approximately $28,000. Desjardins Global Asset Management Inc. boosted its stake in shares of Celanese by 142.1% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 184 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Celanese by 100.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 188 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Celanese in the 1st quarter valued at $31,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Celanese in the 1st quarter valued at $49,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Celanese Price Performance

CE traded up $0.11 during trading on Friday, reaching $137.01. 112,067 shares of the company traded hands, compared to its average volume of 716,512. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. Celanese Co. has a 12-month low of $110.76 and a 12-month high of $172.16. The firm has a fifty day simple moving average of $142.59 and a 200 day simple moving average of $150.66. The company has a market cap of $14.96 billion, a P/E ratio of 7.59, a PEG ratio of 0.59 and a beta of 1.30.

Celanese (NYSE:CE) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.17. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.67 billion. Celanese had a net margin of 18.60% and a return on equity of 14.00%. Celanese’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. On average, equities analysts forecast that Celanese Co. will post 11.26 EPS for the current year.

Celanese Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Tuesday, July 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.80 annualized dividend and a dividend yield of 2.04%. Celanese’s dividend payout ratio (DPR) is 15.41%.

Analysts Set New Price Targets

Several analysts have commented on CE shares. Royal Bank of Canada lifted their price objective on shares of Celanese from $171.00 to $176.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. KeyCorp reduced their price objective on shares of Celanese from $190.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird boosted their price target on shares of Celanese from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Celanese from $175.00 to $160.00 and set a “hold” rating for the company in a report on Monday, June 10th. Finally, Piper Sandler upped their price target on shares of Celanese from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Celanese has a consensus rating of “Hold” and a consensus target price of $162.75.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.