Celanese Corporation (CE) Shares Sold by Andra AP fonden
Andra AP fonden reduced its position in Celanese Corporation (NYSE:CE) by 19.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,500 shares of the basic materials company’s stock after selling 10,300 shares during the period. Andra AP fonden’s holdings in Celanese Corporation were worth $3,940,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of CE. OppenheimerFunds Inc. boosted its position in Celanese Corporation by 34.2% in the first quarter. OppenheimerFunds Inc. now owns 518,783 shares of the basic materials company’s stock worth $46,613,000 after buying an additional 132,280 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Celanese Corporation during the first quarter worth approximately $217,000. Morgan Stanley boosted its position in Celanese Corporation by 84.9% in the first quarter. Morgan Stanley now owns 395,279 shares of the basic materials company’s stock worth $35,514,000 after buying an additional 181,484 shares in the last quarter. Nomura Holdings Inc. boosted its position in Celanese Corporation by 32.4% in the first quarter. Nomura Holdings Inc. now owns 3,414 shares of the basic materials company’s stock worth $307,000 after buying an additional 835 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its position in Celanese Corporation by 23.5% in the first quarter. State of Wisconsin Investment Board now owns 76,478 shares of the basic materials company’s stock worth $6,872,000 after buying an additional 14,557 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.
Shares of Celanese Corporation (CE) opened at 94.75 on Thursday. Celanese Corporation has a 12-month low of $60.59 and a 12-month high of $99.97. The company has a 50-day moving average price of $97.20 and a 200 day moving average price of $91.48. The firm has a market capitalization of $13.03 billion, a PE ratio of 16.12 and a beta of 1.28.
Celanese Corporation (NYSE:CE) last released its earnings results on Monday, July 24th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $1.59 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts expect that Celanese Corporation will post $7.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Friday, July 28th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, July 26th. Celanese Corporation’s dividend payout ratio (DPR) is currently 31.24%.
Celanese Corporation declared that its board has authorized a stock repurchase program on Monday, July 17th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently commented on the company. Nomura upped their target price on Celanese Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Monday, July 17th. Cowen and Company reissued an “outperform” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Celanese Corporation in a research note on Wednesday, August 9th. BidaskClub raised Celanese Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, KeyCorp reissued a “buy” rating and issued a $106.00 price objective on shares of Celanese Corporation in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Celanese Corporation currently has an average rating of “Buy” and a consensus target price of $102.17.
About Celanese Corporation
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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