AdvisorNet Financial Inc Has $207,000 Stock Holdings in Celanese Co. (NYSE:CE)

AdvisorNet Financial Inc raised its holdings in shares of Celanese Co. (NYSE:CE) by 54.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,538 shares of the basic materials company’s stock after buying an additional 543 shares during the period. AdvisorNet Financial Inc’s holdings in Celanese were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CE. UBS Group AG lifted its stake in shares of Celanese by 13.1% in the fourth quarter. UBS Group AG now owns 310,204 shares of the basic materials company’s stock worth $48,196,000 after acquiring an additional 35,898 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Celanese by 109.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,047 shares of the basic materials company’s stock worth $4,133,000 after buying an additional 12,553 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Celanese by 14.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,259 shares of the basic materials company’s stock worth $21,011,000 after buying an additional 15,643 shares in the last quarter. Cetera Advisors LLC grew its holdings in Celanese by 447.8% during the first quarter. Cetera Advisors LLC now owns 7,072 shares of the basic materials company’s stock worth $1,215,000 after buying an additional 5,781 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Celanese by 41.4% during the first quarter. BNP Paribas Financial Markets now owns 128,423 shares of the basic materials company’s stock worth $22,071,000 after buying an additional 37,577 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CE shares. Barclays decreased their price target on Celanese from $170.00 to $151.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company reduced their price objective on Celanese from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Citigroup cut their price objective on Celanese from $167.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Mizuho lifted their target price on Celanese from $161.00 to $173.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Finally, UBS Group dropped their price objective on Celanese from $193.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Celanese has an average rating of “Hold” and an average price target of $155.13.

Celanese Stock Up 3.0 %

CE traded up $3.72 during mid-day trading on Thursday, reaching $129.46. 486,675 shares of the stock were exchanged, compared to its average volume of 747,625. The stock has a market capitalization of $14.14 billion, a PE ratio of 7.12, 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 company has a debt-to-equity ratio of 1.46, a quick ratio of 0.73 and a current ratio of 1.21. The company has a 50 day moving average price of $136.87 and a two-hundred day moving average price of $149.23.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.33). Celanese had a return on equity of 13.73% and a net margin of 18.24%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the firm posted $2.17 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Celanese Co. will post 11.26 EPS for the current 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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, July 30th. Celanese’s dividend payout ratio is 15.41%.

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.