Celanese Co. (NYSE:CE) Short Interest Update

Celanese Co. (NYSE:CE) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 2,892,800 shares, a drop of 14.3% from the June 30th total of 3,374,100 shares. Based on an average daily trading volume, of 1,000,000 shares, the short-interest ratio is currently 2.9 days. Currently, 2.3% of the shares of the stock are short sold.

CE traded down $2.15 on Wednesday, reaching $108.85. 32,039 shares of the company’s stock were exchanged, compared to its average volume of 1,086,163. The company’s 50 day simple moving average is $107.73. The company has a market capitalization of $13.51 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.06 and a beta of 1.39. Celanese has a twelve month low of $82.91 and a twelve month high of $119.29. The company has a current ratio of 2.04, a quick ratio of 1.32 and a debt-to-equity ratio of 1.12.

Celanese (NYSE:CE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.36 by $0.02. Celanese had a return on equity of 38.56% and a net margin of 15.52%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business earned $2.90 EPS. Celanese’s quarterly revenue was down 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Celanese will post 10.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, July 25th. Celanese’s dividend payout ratio (DPR) is 22.55%.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Alpha LLC acquired a new stake in Celanese during the 1st quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Celanese during the 2nd quarter worth approximately $28,000. Rockefeller Capital Management L.P. grew its holdings in shares of Celanese by 75.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Investors Research Corp acquired a new stake in shares of Celanese during the 1st quarter worth approximately $41,000. Finally, Acima Private Wealth LLC boosted its stake in Celanese by 28.6% in the 1st quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. 96.45% of the stock is currently owned by institutional investors.

Several research firms have issued reports on CE. Robert W. Baird boosted their price objective on shares of Celanese from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Alembic Global Advisors upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and upped their price target for the company from $95.00 to $115.00 in a research note on Monday, April 29th. KeyCorp dropped their price objective on shares of Celanese from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. BMO Capital Markets increased their price target on shares of Celanese from $115.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Barclays increased their price target on shares of Celanese from $120.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $117.87.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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