Brooklyn Investment Group Invests $102,000 in Celanese Co. (NYSE:CE)

Brooklyn Investment Group bought a new stake in shares of Celanese Co. (NYSE:CE) during the third quarter, Holdings Channel reports. The fund bought 747 shares of the basic materials company’s stock, valued at approximately $102,000.

Other institutional investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC lifted its holdings in Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Celanese in the 2nd quarter worth about $28,000. LRI Investments LLC purchased a new stake in Celanese during the 1st quarter worth approximately $31,000. Key Financial Inc raised its holdings in shares of Celanese by 3,933.3% during the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 236 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Celanese in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 98.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $156.00 to $130.00 in a report on Monday, August 5th. Morgan Stanley dropped their target price on Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price target on Celanese from $163.00 to $122.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Mizuho cut their price objective on shares of Celanese from $132.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Robert W. Baird decreased their target price on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Celanese presently has an average rating of “Hold” and an average price target of $120.59.

Celanese Trading Up 0.1 %

Shares of NYSE CE opened at $72.95 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $7.97 billion, a PE ratio of 7.34, a PEG ratio of 0.78 and a beta of 1.31. Celanese Co. has a twelve month low of $71.38 and a twelve month high of $172.16. The stock has a fifty day simple moving average of $114.71 and a 200-day simple moving average of $129.38.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Celanese Co. will post 8.67 earnings per share for the current year.

Celanese Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $2.80 annualized dividend and a yield of 3.84%. Celanese’s dividend payout ratio is presently 28.17%.

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.