Parallel Advisors LLC Has $117,000 Stake in Celanese Co. (CE)

Parallel Advisors LLC grew its position in shares of Celanese Co. (NYSE:CE) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,311 shares of the basic materials company’s stock after purchasing an additional 141 shares during the period. Parallel Advisors LLC’s holdings in Celanese were worth $117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CE. Deutsche Bank AG raised its stake in shares of Celanese by 105.7% during the third quarter. Deutsche Bank AG now owns 944,890 shares of the basic materials company’s stock valued at $107,712,000 after purchasing an additional 485,564 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Celanese by 21.5% during the third quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock valued at $237,621,000 after purchasing an additional 369,361 shares during the period. Capital Growth Management LP raised its stake in shares of Celanese by 900.0% during the third quarter. Capital Growth Management LP now owns 400,000 shares of the basic materials company’s stock valued at $45,600,000 after purchasing an additional 360,000 shares during the period. LSV Asset Management increased its stake in shares of Celanese by 14.2% in the fourth quarter. LSV Asset Management now owns 2,824,214 shares of the basic materials company’s stock worth $254,094,000 after buying an additional 350,175 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Celanese by 17.7% in the third quarter. AQR Capital Management LLC now owns 1,793,648 shares of the basic materials company’s stock worth $204,475,000 after buying an additional 269,424 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

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Shares of NYSE:CE opened at $100.26 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.62 and a quick ratio of 1.03. Celanese Co. has a 12-month low of $82.91 and a 12-month high of $119.29. The firm has a market capitalization of $13.41 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.95 and a beta of 1.31.

Celanese (NYSE:CE) last released its earnings results on Monday, January 28th. The basic materials company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.02). Celanese had a net margin of 16.87% and a return on equity of 40.37%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts predict that Celanese Co. will post 10.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Tuesday, February 19th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $2.16 annualized dividend and a yield of 2.15%. Celanese’s payout ratio is 19.64%.

CE has been the subject of a number of research analyst reports. UBS Group set a $126.00 price target on shares of Celanese and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Tuesday, October 23rd. Royal Bank of Canada restated a “buy” rating and issued a $118.00 price target on shares of Celanese in a research note on Thursday, December 20th. Robert W. Baird restated a “buy” rating and issued a $120.00 price target on shares of Celanese in a research note on Wednesday, January 30th. Finally, Stifel Nicolaus initiated coverage on shares of Celanese in a research note on Monday, December 10th. They issued a “hold” rating and a $100.00 price target for the company. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $115.24.

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Celanese Company Profile

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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