Bank of New York Mellon Corp Acquires 8,700 Shares of Celanese Co. (NYSE:CE)

Bank of New York Mellon Corp grew its holdings in Celanese Co. (NYSE:CE - Free Report) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,085,522 shares of the basic materials company's stock after buying an additional 8,700 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Celanese worth $146,426,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CE. Capital Research Global Investors grew its position in Celanese by 0.6% in the first quarter. Capital Research Global Investors now owns 14,899,384 shares of the basic materials company's stock valued at $2,560,608,000 after acquiring an additional 90,206 shares during the period. Vanguard Group Inc. increased its position in shares of Celanese by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 13,077,014 shares of the basic materials company's stock worth $2,031,776,000 after purchasing an additional 354,367 shares in the last quarter. Capital International Investors lifted its holdings in Celanese by 3.0% during the 4th quarter. Capital International Investors now owns 11,337,115 shares of the basic materials company's stock valued at $1,761,567,000 after purchasing an additional 329,740 shares during the last quarter. Wellington Management Group LLP grew its stake in Celanese by 18.0% during the fourth quarter. Wellington Management Group LLP now owns 8,529,064 shares of the basic materials company's stock worth $1,325,161,000 after buying an additional 1,302,758 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of Celanese by 0.3% during the first quarter. Capital World Investors now owns 6,158,773 shares of the basic materials company's stock worth $1,058,447,000 after buying an additional 21,085 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

Celanese Trading Down 0.4 %

Shares of Celanese stock traded down $0.51 during trading on Tuesday, hitting $130.99. 458,368 shares of the company were exchanged, compared to its average volume of 741,551. The firm has a market capitalization of $14.31 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.30. Celanese Co. has a 1-year low of $110.76 and a 1-year high of $172.16. The firm's fifty day moving average price is $134.46 and its 200 day moving average price is $148.11. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 0.73.

Celanese (NYSE:CE - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.33). Celanese had a net margin of 18.24% and a return on equity of 13.73%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. Celanese's revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Celanese Co. will post 11.26 earnings per share for the current fiscal year.

Celanese Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Tuesday, July 30th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, July 30th. Celanese's payout ratio is 15.41%.

Wall Street Analysts Forecast Growth

CE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded Celanese from an "underweight" rating to a "neutral" rating and decreased their price target for the stock from $156.00 to $130.00 in a research report on Monday, August 5th. Royal Bank of Canada cut their price target on Celanese from $168.00 to $167.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Mizuho lifted their price target on Celanese from $161.00 to $173.00 and gave the company a "neutral" rating in a report on Thursday, May 9th. Piper Sandler lifted their price target on Celanese from $170.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, May 17th. Finally, KeyCorp cut their price target on Celanese from $180.00 to $178.00 and set an "overweight" rating for the company in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $155.13.

Insider Buying and Selling at Celanese

In other news, COO Scott A. Richardson sold 4,675 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $129.51, for a total transaction of $605,459.25. Following the sale, the chief operating officer now owns 69,754 shares in the company, valued at approximately $9,033,840.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company's stock.

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.