Traders Purchase Large Volume of Celanese Put Options (CE)

Celanese Co. (NYSE:CE) saw some unusual options trading activity on Thursday. Investors purchased 1,175 put options on the stock. This is an increase of 1,099% compared to the typical daily volume of 98 put options.

A number of large investors have recently modified their holdings of the stock. Standard Life Aberdeen plc boosted its holdings in Celanese by 52.6% in the second quarter. Standard Life Aberdeen plc now owns 2,815,551 shares of the basic materials company’s stock worth $312,695,000 after purchasing an additional 969,914 shares in the last quarter. Millennium Management LLC boosted its holdings in Celanese by 76.2% in the second quarter. Millennium Management LLC now owns 2,005,758 shares of the basic materials company’s stock worth $222,759,000 after purchasing an additional 867,269 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Celanese by 353.3% in the second quarter. PNC Financial Services Group Inc. now owns 984,690 shares of the basic materials company’s stock worth $109,359,000 after purchasing an additional 767,484 shares in the last quarter. Bank of America Corp DE boosted its holdings in Celanese by 23.5% in the second quarter. Bank of America Corp DE now owns 876,710 shares of the basic materials company’s stock worth $97,367,000 after purchasing an additional 166,651 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Celanese by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 744,056 shares of the basic materials company’s stock worth $82,635,000 after purchasing an additional 4,974 shares in the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

CE has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Celanese from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 24th. Nomura cut their target price on shares of Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. Royal Bank of Canada reissued a “buy” rating and set a $134.00 target price on shares of Celanese in a research note on Friday, July 13th. Citigroup lowered their price target on shares of Celanese from $134.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Finally, Vertical Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $123.11.

Shares of NYSE:CE opened at $99.62 on Friday. The firm has a market capitalization of $13.47 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.30. Celanese has a 1 year low of $95.45 and a 1 year high of $119.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.39.

Celanese (NYSE:CE) last issued its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.22. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Celanese had a net margin of 16.57% and a return on equity of 37.74%. Celanese’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. As a group, equities analysts anticipate that Celanese will post 10.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Monday, October 29th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, October 26th. Celanese’s dividend payout ratio is presently 28.76%.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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