Neumann Capital Management LLC Has $408,000 Stock Holdings in Celanese Co. (NYSE:CE)

Neumann Capital Management LLC lifted its holdings in shares of Celanese Co. (NYSE:CE) by 5.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,000 shares of the basic materials company’s stock after acquiring an additional 150 shares during the period. Neumann Capital Management LLC’s holdings in Celanese were worth $408,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sei Investments Co. boosted its stake in Celanese by 5.6% in the 1st quarter. Sei Investments Co. now owns 36,523 shares of the basic materials company’s stock valued at $6,277,000 after buying an additional 1,946 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Celanese by 7.1% in the 1st quarter. Russell Investments Group Ltd. now owns 60,009 shares of the basic materials company’s stock valued at $10,309,000 after purchasing an additional 3,992 shares in the last quarter. US Bancorp DE increased its position in shares of Celanese by 2.1% during the 1st quarter. US Bancorp DE now owns 14,078 shares of the basic materials company’s stock worth $2,420,000 after purchasing an additional 288 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Celanese by 2.8% during the 1st quarter. Bleakley Financial Group LLC now owns 2,866 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 79 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Celanese by 12.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 5,233 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 584 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on CE shares. Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $165.00 to $115.00 in a report on Tuesday, November 5th. Piper Sandler lowered Celanese from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $150.00 to $98.00 in a research report on Friday, November 8th. Morgan Stanley cut their price objective on Celanese from $140.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. UBS Group cut Celanese from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $161.00 to $97.00 in a report on Monday. Finally, Mizuho lowered their target price on Celanese from $132.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.35.

Celanese Price Performance

Shares of CE opened at $73.94 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. Celanese Co. has a twelve month low of $72.94 and a twelve month high of $172.16. The stock has a market capitalization of $8.08 billion, a P/E ratio of 7.44, a P/E/G ratio of 0.76 and a beta of 1.31. The company has a 50 day moving average of $123.30 and a 200-day moving average of $134.89.

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

Celanese Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 30th. This represents a $2.80 annualized dividend and a yield of 3.79%. Celanese’s dividend payout ratio (DPR) is presently 28.17%.

Insiders Place Their Bets

In other news, COO Scott A. Richardson sold 4,675 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $129.51, for a total value of $605,459.25. Following the sale, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at approximately $9,033,840.54. This represents a 6.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

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.