Celanese Corporation (CE) Shares Sold by Boston Partners
Boston Partners lessened its position in shares of Celanese Corporation (NYSE:CE) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,824,475 shares of the basic materials company’s stock after selling 26,145 shares during the quarter. Boston Partners owned about 2.07% of Celanese Corporation worth $294,508,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CE. JPMorgan Chase & Co. lifted its stake in shares of Celanese Corporation by 33.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock valued at $284,749,000 after purchasing an additional 752,057 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Celanese Corporation by 33.2% in the 2nd quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock valued at $191,171,000 after purchasing an additional 501,469 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Celanese Corporation by 277.5% in the 2nd quarter. Nordea Investment Management AB now owns 597,713 shares of the basic materials company’s stock valued at $56,747,000 after purchasing an additional 439,378 shares during the last quarter. Standard Life Investments LTD bought a new stake in shares of Celanese Corporation in the 2nd quarter valued at approximately $38,550,000. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in shares of Celanese Corporation by 42.4% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,363,210 shares of the basic materials company’s stock valued at $129,423,000 after purchasing an additional 405,581 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.
Several research firms have recently issued reports on CE. UBS AG reaffirmed a “neutral” rating and issued a $100.00 price objective (up from $95.00) on shares of Celanese Corporation in a research note on Tuesday, July 25th. BidaskClub lowered Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada raised their price objective on Celanese Corporation from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $122.00 price objective on shares of Celanese Corporation in a research note on Thursday, October 19th. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $107.74.
Celanese Corporation (CE) traded down $1.55 on Thursday, reaching $104.73. The company’s stock had a trading volume of 5,327 shares, compared to its average volume of 788,070. The stock has a market cap of $14,494.06, a P/E ratio of 15.16, a P/E/G ratio of 1.61 and a beta of 1.31. Celanese Corporation has a one year low of $71.75 and a one year high of $109.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16.
Celanese Corporation (NYSE:CE) last released its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.92 by $0.01. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.49 billion. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. Celanese Corporation’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. equities analysts anticipate that Celanese Corporation will post 7.37 EPS for the current year.
Celanese Corporation declared that its Board of Directors has initiated a share buyback plan on Monday, July 17th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Monday, October 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.76%. Celanese Corporation’s payout ratio is currently 32.11%.
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In other news, Director John K. Wulff sold 2,500 shares of Celanese Corporation stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total value of $264,700.00. Following the transaction, the director now directly owns 30,175 shares in the company, valued at approximately $3,194,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher W. Jensen sold 1,000 shares of Celanese Corporation stock in a transaction on Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the completion of the transaction, the chief financial officer now owns 60,086 shares in the company, valued at $6,289,802.48. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
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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