XTX Topco Ltd Buys New Stake in Celanese Co. (NYSE:CE)

XTX Topco Ltd bought a new stake in shares of Celanese Co. (NYSE:CE) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 6,276 shares of the basic materials company’s stock, valued at approximately $853,000.

Several other institutional investors also recently bought and sold shares of the stock. DT Investment Partners LLC grew its stake in shares of Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Celanese in the 2nd quarter worth $28,000. Key Financial Inc grew its stake in shares of Celanese by 3,933.3% in the 2nd quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after buying an additional 236 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Celanese in the 2nd quarter worth $40,000. Finally, Rothschild Investment LLC purchased a new position in shares of Celanese in the 2nd quarter worth $40,000. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Trading Down 3.8 %

NYSE:CE opened at $69.64 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. The firm has a market cap of $7.61 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.75 and a beta of 1.18. The firm has a 50-day simple moving average of $102.61 and a 200-day simple moving average of $123.44. Celanese Co. has a one year low of $68.88 and a one year high of $172.16.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.41). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 EPS. Equities analysts anticipate that Celanese Co. will post 8.38 EPS for the current fiscal year.

Celanese Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.02%. Celanese’s payout ratio is 28.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CE shares. Piper Sandler cut shares of Celanese from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $150.00 to $98.00 in a research note on Friday, November 8th. UBS Group lowered shares of Celanese from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Barclays lowered their target price on shares of Celanese from $101.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, November 19th. Mizuho lowered their target price on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, BMO Capital Markets lowered shares of Celanese from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $138.00 to $76.00 in a report on Monday, November 11th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $116.56.

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.