Celanese Corp. (CE) CAO Lori A. Johnston Sells 83,829 Shares
Celanese Corp. (NYSE:CE) CAO Lori A. Johnston sold 83,829 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $72.30, for a total value of $6,060,836.70. Following the transaction, the chief accounting officer now owns 109,645 shares of the company’s stock, valued at $7,927,333.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Celanese Corp. (NYSE:CE) opened at 75.60 on Thursday. The stock has a 50 day moving average price of $68.14 and a 200 day moving average price of $67.69. Celanese Corp. has a 12 month low of $55.07 and a 12 month high of $75.87. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 25.12 and a beta of 1.22.
Celanese Corp. (NYSE:CE) last posted its quarterly earnings results on Monday, October 17th. The company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06. Celanese Corp. had a net margin of 8.17% and a return on equity of 30.69%. The firm earned $1.32 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Analysts anticipate that Celanese Corp. will post $6.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Monday, October 31st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, October 27th. Celanese Corp.’s dividend payout ratio (DPR) is 47.84%.
Several research firms recently commented on CE. Zacks Investment Research upgraded Celanese Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Friday, October 21st. Citigroup Inc. reduced their target price on Celanese Corp. from $82.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, July 15th. Nomura set a $77.00 price objective on Celanese Corp. and gave the stock a “hold” rating in a report on Wednesday, October 19th. Jefferies Group reiterated a “buy” rating on shares of Celanese Corp. in a report on Friday, August 12th. Finally, KeyCorp assumed coverage on Celanese Corp. in a report on Thursday, October 6th. They issued an “overweight” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.29.
A number of institutional investors have recently modified their holdings of CE. Societe Generale purchased a new position in Celanese Corp. during the second quarter valued at about $111,000. Penserra Capital Management LLC raised its position in Celanese Corp. by 97.2% in the third quarter. Penserra Capital Management LLC now owns 1,710 shares of the company’s stock valued at $112,000 after buying an additional 843 shares in the last quarter. Creative Planning raised its position in Celanese Corp. by 261.1% in the third quarter. Creative Planning now owns 1,755 shares of the company’s stock valued at $117,000 after buying an additional 1,269 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Celanese Corp. during the second quarter worth $133,000. Finally, Advisor Group Inc. bought a new stake in shares of Celanese Corp. during the second quarter worth $152,000. 97.03% of the stock is owned by institutional investors.
Celanese Corp. Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.
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