Stock Traders Buy High Volume of Celanese Put Options (NYSE:CE)

Celanese Co. (NYSE:CE) was the recipient of some unusual options trading on Thursday. Stock investors acquired 2,049 put options on the stock. This represents an increase of 3,152% compared to the average daily volume of 63 put options.

NYSE CE traded up $1.79 during trading hours on Friday, hitting $107.12. The company’s stock had a trading volume of 19,834 shares, compared to its average volume of 875,235. Celanese has a 12 month low of $82.91 and a 12 month high of $119.29. The stock has a 50 day moving average price of $103.09. The company has a market capitalization of $13.52 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.02 and a beta of 1.42. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58.

Celanese (NYSE:CE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.13. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Celanese had a return on equity of 39.76% and a net margin of 16.89%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $2.79 earnings per share. On average, equities analysts predict that Celanese will post 10.22 EPS for the current year.

Several brokerages have recently weighed in on CE. Alembic Global Advisors upgraded Celanese from an “underweight” rating to a “neutral” rating and raised their price target for the company from $95.00 to $115.00 in a report on Monday, April 29th. BMO Capital Markets reiterated a “market perform” rating and issued a C$17.00 price objective on shares of Wajax in a report on Thursday, June 20th. Barclays reduced their price objective on Waters from $218.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, April 24th. Cowen reiterated a “buy” rating on shares of Ovid Therapeutics in a report on Monday, July 1st. Finally, Vertical Research downgraded Domtar from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $117.75.

In other news, Director John K. Wulff sold 9,175 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $108.32, for a total transaction of $993,836.00. Following the completion of the transaction, the director now directly owns 19,872 shares in the company, valued at $2,152,535.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Nuveen Asset Management LLC lifted its position in shares of Celanese by 23.1% during the 4th quarter. Nuveen Asset Management LLC now owns 273,162 shares of the basic materials company’s stock valued at $24,576,000 after buying an additional 51,275 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Celanese by 0.4% during the 4th quarter. Macquarie Group Ltd. now owns 155,877 shares of the basic materials company’s stock valued at $14,025,000 after buying an additional 610 shares in the last quarter. Northern Trust Corp lifted its position in shares of Celanese by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,353,590 shares of the basic materials company’s stock valued at $133,477,000 after buying an additional 16,072 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of Celanese by 37.9% during the 1st quarter. Hancock Whitney Corp now owns 42,424 shares of the basic materials company’s stock valued at $4,184,000 after buying an additional 11,656 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Celanese by 16.4% during the 4th quarter. Cetera Investment Advisers now owns 6,536 shares of the basic materials company’s stock valued at $588,000 after buying an additional 920 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors and hedge funds.

About Celanese

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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