Teacher Retirement System of Texas increased its position in Celanese Corporation (NYSE:CE) by 22.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,063 shares of the basic materials company’s stock after purchasing an additional 51,444 shares during the period. Teacher Retirement System of Texas owned approximately 0.21% of Celanese Corporation worth $29,306,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of CE. JPMorgan Chase & Co. lifted its stake in 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 valued at $284,749,000 after acquiring an additional 752,057 shares in the last quarter. Boston Partners lifted its stake in 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 acquiring an additional 623,671 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Celanese Corporation by 33.2% during 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 acquiring an additional 501,469 shares in the last quarter. Nordea Investment Management AB lifted its stake in Celanese Corporation by 277.5% during 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 acquiring an additional 439,378 shares in the last quarter. Finally, Standard Life Investments LTD bought a new position in Celanese Corporation during the 2nd quarter valued at $38,550,000. Institutional investors own 97.90% of the company’s stock.
In other Celanese Corporation news, CFO Christopher W. Jensen sold 1,000 shares of Celanese Corporation stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $104.68, for a total transaction of $104,680.00. Following the completion of the transaction, the chief financial officer now owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John K. Wulff sold 2,500 shares of Celanese Corporation stock in a transaction dated Tuesday, October 24th. The shares were 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 of the company’s stock, valued at approximately $3,194,929. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
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CE has been the topic of several recent analyst reports. Nomura raised their price objective 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 for the company in a research report on Monday, July 17th. ValuEngine raised Celanese Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and set a $106.00 target price on shares of Celanese Corporation in a research report on Thursday, August 24th. Finally, UBS AG reaffirmed a “neutral” rating and set a $100.00 target price (up from $95.00) on shares of Celanese Corporation in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $107.74.
Shares of Celanese Corporation (NYSE CE) traded up $0.08 on Tuesday, reaching $105.80. The company had a trading volume of 431,700 shares, compared to its average volume of 893,851. Celanese Corporation has a 52 week low of $75.79 and a 52 week high of $109.11. The stock has a market cap of $14,339.44, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.59 and a beta of 1.31. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94.
Celanese Corporation (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.01. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $1.67 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. sell-side analysts predict that Celanese Corporation will post 7.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Monday, October 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.74%. The ex-dividend date was Friday, October 27th. Celanese Corporation’s dividend payout ratio (DPR) is currently 32.11%.
Celanese Corporation declared that its board has authorized a share buyback plan on Monday, July 17th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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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