Vise Technologies Inc. Makes New Investment in Celanese Corporation $CE

Vise Technologies Inc. acquired a new position in Celanese Corporation (NYSE:CE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 12,106 shares of the basic materials company’s stock, valued at approximately $537,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Celanese during the second quarter valued at approximately $614,675,000. Turtle Creek Asset Management Inc. lifted its holdings in 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 acquiring an additional 391,204 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Celanese by 83.2% during 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 purchasing an additional 993,193 shares during the period. Bank of America Corp DE purchased a new stake in shares of Celanese during the 2nd quarter valued at about $62,580,000. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in shares of Celanese by 8.4% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 836,733 shares of the basic materials company’s stock worth $55,032,000 after purchasing an additional 65,155 shares during the period. Institutional investors own 98.87% of the company’s stock.

Wall Street Analysts Forecast Growth

CE has been the subject of several recent research reports. Wells Fargo & Company cut their price target on Celanese from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Barclays lifted their price target on shares of Celanese from $49.00 to $57.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. Mizuho set a $50.00 price objective on shares of Celanese in a research report on Wednesday, August 5th. KeyCorp upped their price objective on Celanese from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wall Street Zen upgraded Celanese from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.56.

Celanese Trading Up 4.8%

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

Celanese (NYSE:CE) last announced its earnings results 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 the consensus estimate of $2.62 billion. Celanese had a net margin of 2.66% and a return on equity of 13.63%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. As a group, research analysts expect that Celanese Corporation will post 6.13 EPS for the current year.

Celanese Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Shareholders of record on Tuesday, October 27th were given 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 dividend 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.