Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Celanese Corporation (NYSE:CE) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,546 shares of the basic materials company’s stock after purchasing an additional 5,242 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.32% of Celanese Corporation worth $45,310,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in Celanese Corporation by 24.2% during the second 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 in the last quarter. Barrett Asset Management LLC acquired a new position in Celanese Corporation during the second quarter valued at approximately $142,000. Fiduciary Trust Co. acquired a new position in Celanese Corporation during the second quarter valued at approximately $150,000. Toronto Dominion Bank raised its position in Celanese Corporation by 8.4% during the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock valued at $164,000 after purchasing an additional 134 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Celanese Corporation by 6.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock valued at $182,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.
Shares of Celanese Corporation (CE) opened at $104.69 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94. The company has a market cap of $14,199.73, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.31. Celanese Corporation has a 1 year low of $75.79 and a 1 year high of $109.11.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.01. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 earnings per share. equities research analysts expect that Celanese Corporation will post 7.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.76%. Celanese Corporation’s dividend payout ratio (DPR) is currently 32.11%.
CE has been the subject of several research analyst reports. ValuEngine downgraded shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Nomura upped their price target on shares of Celanese Corporation from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, October 10th. KeyCorp upped their price target on shares of Celanese Corporation from $106.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Instinet reiterated a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Celanese Corporation in a report on Friday, October 13th. Finally, UBS AG upped their price target on shares of Celanese Corporation from $100.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $107.74.
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In other news, Director John K. Wulff sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the transaction, the director now owns 30,175 shares in the company, valued at $3,194,929. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the transaction, the chief financial officer now owns 60,086 shares in the company, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. Corporate 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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