ProShare Advisors LLC Sells 2,074 Shares of Celanese Corporation (CE)
ProShare Advisors LLC lowered its position in Celanese Corporation (NYSE:CE) by 19.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,756 shares of the basic materials company’s stock after selling 2,074 shares during the quarter. ProShare Advisors LLC’s holdings in Celanese Corporation were worth $831,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CE. Vanguard Group Inc. increased its position in Celanese Corporation by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 11,737,016 shares of the basic materials company’s stock worth $1,054,571,000 after purchasing an additional 295,657 shares during the last quarter. BlackRock Inc. raised its stake in shares of Celanese Corporation by 5,604.5% during the 1st quarter. BlackRock Inc. now owns 7,632,901 shares of the basic materials company’s stock worth $685,818,000 after purchasing an additional 7,499,096 shares in the last quarter. State Street Corp raised its stake in shares of Celanese Corporation by 6.5% during the 1st quarter. State Street Corp now owns 3,658,510 shares of the basic materials company’s stock worth $328,728,000 after purchasing an additional 224,136 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Celanese Corporation by 33.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock worth $284,749,000 after purchasing an additional 752,057 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Celanese Corporation by 28.0% during the 2nd quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock valued at $270,637,000 after buying an additional 623,671 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.
Celanese Corporation (CE) opened at 104.27 on Monday. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 17.74 and a beta of 1.31. Celanese Corporation has a 52-week low of $63.02 and a 52-week high of $104.75. The firm’s 50-day moving average is $97.80 and its 200-day moving average is $92.60.
Celanese Corporation (NYSE:CE) last released its earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.59 earnings per share. Analysts forecast that Celanese Corporation will post $7.33 EPS for the current fiscal year.
Celanese Corporation declared that its Board of Directors has approved a share repurchase plan on Monday, July 17th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently commented on CE shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Celanese Corporation in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a report on Monday, July 17th. ValuEngine upgraded Celanese Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Celanese Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, Alembic Global Advisors reaffirmed a “sell” rating on shares of Celanese Corporation in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. Celanese Corporation has an average rating of “Buy” and a consensus target price of $103.05.
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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