Uniplan Investment Counsel Inc. Invests $15.84 Million in Celanese Corporation (CE)
Uniplan Investment Counsel Inc. acquired a new stake in Celanese Corporation (NYSE:CE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 166,871 shares of the basic materials company’s stock, valued at approximately $15,843,000. Uniplan Investment Counsel Inc. owned about 0.12% of Celanese Corporation at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Celanese Corporation by 24.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 206 shares during the last quarter. Barrett Asset Management LLC bought a new stake in shares of Celanese Corporation in the 2nd quarter valued at approximately $142,000. Toronto Dominion Bank lifted its stake in shares of Celanese Corporation by 27.4% in the 1st quarter. Toronto Dominion Bank now owns 1,597 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 343 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Celanese Corporation in the 2nd quarter valued at approximately $150,000. Finally, Fifth Third Bancorp lifted its stake in shares of Celanese Corporation by 31.5% in the 1st quarter. Fifth Third Bancorp now owns 2,005 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 480 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.
Celanese Corporation (CE) traded up 1.33% on Monday, reaching $98.08. The company’s stock had a trading volume of 184,058 shares. Celanese Corporation has a 52 week low of $60.59 and a 52 week high of $99.97. The company has a 50 day moving average of $96.91 and a 200 day moving average of $92.05. The firm has a market capitalization of $13.49 billion, a price-to-earnings ratio of 16.69 and a beta of 1.28.
Celanese Corporation (NYSE:CE) last released its quarterly 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 return on equity of 31.23% and a net margin of 14.89%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm earned $1.59 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, analysts forecast that Celanese Corporation will post $7.33 earnings per share for the current year.
Celanese Corporation declared that its board has approved a share repurchase program on Monday, July 17th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
CE has been the subject of several analyst reports. Jefferies Group LLC set a $104.00 price objective on Celanese Corporation and gave the company a “buy” rating in a research note on Saturday, May 27th. BidaskClub lowered Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Monday, July 17th. KeyCorp reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Celanese Corporation in a research note on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $109.00 price objective on shares of Celanese Corporation in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $102.74.
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Celanese Corporation Profile
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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