Bank of New York Mellon Corp trimmed its position in Celanese Corporation (NYSE:CE) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,969,239 shares of the basic materials company’s stock after selling 296,403 shares during the quarter. Bank of New York Mellon Corp owned 1.45% of Celanese worth $205,333,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Celanese by 1.3% in the second quarter. Vanguard Group Inc. now owns 11,890,128 shares of the basic materials company’s stock valued at $1,128,848,000 after acquiring an additional 153,112 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Celanese by 33.5% in the second 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 boosted its holdings in shares of Celanese 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 in the last quarter. LSV Asset Management boosted its holdings in shares of Celanese by 15.0% during the 2nd quarter. LSV Asset Management now owns 2,212,008 shares of the basic materials company’s stock valued at $210,008,000 after buying an additional 288,356 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Celanese 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 buying an additional 501,469 shares in the last quarter. 96.17% of the stock is currently owned by institutional investors.
CE has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and set a $109.00 target price on shares of Celanese in a report on Wednesday, September 6th. BidaskClub upgraded shares of Celanese from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. KeyCorp restated a “buy” rating and set a $106.00 target price on shares of Celanese in a report on Thursday, August 24th. ValuEngine cut shares of Celanese from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Finally, Citigroup dropped their price target on shares of Celanese from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $107.74.
In related news, CFO Christopher W. Jensen sold 1,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly 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 is available at this hyperlink. Also, Director John K. Wulff sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the completion of the sale, the director now directly owns 30,175 shares of the company’s stock, valued at $3,194,929. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
Shares of Celanese Corporation (NYSE CE) traded up $0.31 during trading hours on Monday, reaching $106.80. The company’s stock had a trading volume of 446,480 shares, compared to its average volume of 868,356. Celanese Corporation has a fifty-two week low of $78.38 and a fifty-two week high of $109.11. 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 stock has a market cap of $14,443.88, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32.
Celanese (NYSE:CE) last issued its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.01. Celanese had a return on equity of 31.98% and a net margin of 13.66%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. Celanese’s revenue was up 18.4% on a year-over-year basis. sell-side analysts anticipate that Celanese Corporation will post 7.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Monday, October 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, October 27th. Celanese’s payout ratio is currently 32.11%.
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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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