Celanese Corporation (CE) Position Reduced by OxFORD Asset Management LLP

OxFORD Asset Management LLP reduced its position in shares of Celanese Corporation (NYSE:CE) by 12.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,363 shares of the basic materials company’s stock after selling 6,425 shares during the quarter. OxFORD Asset Management LLP’s holdings in Celanese were worth $4,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Alps Advisors Inc. raised its holdings in Celanese by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,276 shares of the basic materials company’s stock worth $501,000 after purchasing an additional 14 shares in the last quarter. Toronto Dominion Bank raised its holdings in Celanese by 8.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 134 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in Celanese by 1.9% in the 2nd quarter. Pittenger & Anderson Inc. now owns 7,165 shares of the basic materials company’s stock worth $680,000 after purchasing an additional 135 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings in Celanese by 2.3% in the 2nd quarter. Stanley Laman Group Ltd. now owns 6,576 shares of the basic materials company’s stock worth $624,000 after purchasing an additional 148 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in Celanese by 4.2% in the 2nd quarter. Synovus Financial Corp now owns 4,076 shares of the basic materials company’s stock worth $382,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 96.17% of the company’s stock.

In related news, CFO Christopher W. Jensen sold 1,000 shares of the 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 sale, the chief financial officer now directly owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John K. Wulff sold 2,500 shares of the 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 sale, the director now directly owns 30,175 shares in the company, valued at $3,194,929. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Several brokerages have commented on CE. ValuEngine lowered shares of Celanese from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Nomura upped their target price on shares of Celanese from $97.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 10th. KeyCorp upped their target price on shares of Celanese from $106.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Instinet reaffirmed a “neutral” rating and issued a $100.00 target price (up from $97.00) on shares of Celanese in a research report on Friday, October 13th. Finally, UBS upped their target price on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $107.74.

Celanese Corporation (NYSE:CE) traded down $0.94 during trading hours on Wednesday, hitting $105.86. 627,900 shares of the stock were exchanged, compared to its average volume of 867,329. Celanese Corporation has a 12-month low of $78.38 and a 12-month high of $109.11. The stock has a market cap of $14,485.93, a P/E ratio of 15.15, a PEG ratio of 1.61 and a beta of 1.32. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.94.

Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $1.67 EPS. Celanese’s revenue for the quarter was up 18.4% on a year-over-year basis. analysts expect that Celanese Corporation will post 7.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Monday, October 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.74%. The ex-dividend date was Friday, October 27th. Celanese’s dividend payout ratio (DPR) is 32.11%.

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About Celanese

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.

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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