Investec Asset Management LTD reduced its position in Celanese Corporation (NYSE:CE) by 23.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,296 shares of the basic materials company’s stock after selling 1,310 shares during the period. Investec Asset Management LTD’s holdings in Celanese were worth $448,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CE. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Celanese by 24.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after buying an additional 206 shares in the last quarter. Barrett Asset Management LLC acquired a new stake in Celanese in the 2nd quarter worth approximately $142,000. Fiduciary Trust Co. acquired a new stake in Celanese in the 2nd quarter worth approximately $150,000. Toronto Dominion Bank boosted its stake 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. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Celanese by 6.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock worth $182,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 96.18% of the company’s stock.
In related news, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total value of $264,700.00. Following the completion of the sale, the director now owns 30,175 shares of the company’s stock, valued at approximately $3,194,929. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
Celanese (NYSE:CE) last posted its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.01. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. sell-side analysts anticipate that Celanese Corporation will post 7.37 earnings per share for the current year.
The business also recently declared 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 1.73%. The ex-dividend date of this dividend was Friday, October 27th. Celanese’s payout ratio is presently 32.11%.
A number of analysts recently commented on CE shares. Cowen reiterated an “outperform” rating and issued a $115.00 target price (up from $100.00) on shares of Celanese in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Celanese from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. KeyCorp reiterated a “buy” rating and issued a $106.00 target price on shares of Celanese in a research note on Thursday, August 24th. ValuEngine upgraded shares of Celanese from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $109.00 target price on shares of Celanese in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Celanese currently has an average rating of “Buy” and an average price target of $107.74.
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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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