Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Celanese Co. (NYSE:CE) by 13.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,150,894 shares of the basic materials company’s stock after buying an additional 253,809 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.59% of Celanese worth $224,274,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Uniplan Investment Counsel Inc. acquired a new position in Celanese in the 2nd quarter valued at about $15,843,000. Koch Industries Inc. acquired a new position in shares of Celanese during the 2nd quarter worth approximately $289,000. Swiss National Bank grew its position in shares of Celanese by 1.2% during the 2nd quarter. Swiss National Bank now owns 513,530 shares of the basic materials company’s stock worth $48,755,000 after purchasing an additional 6,100 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Celanese by 1.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 434,546 shares of the basic materials company’s stock worth $45,310,000 after purchasing an additional 5,242 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Celanese by 10.2% during the 3rd quarter. Macquarie Group Ltd. now owns 157,840 shares of the basic materials company’s stock worth $16,458,000 after purchasing an additional 14,650 shares in the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.
A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Celanese from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Jefferies Group restated a “buy” rating and set a $122.00 target price on shares of Celanese in a research report on Thursday, October 19th. Royal Bank of Canada increased their target price on shares of Celanese from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. KeyCorp increased 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. Finally, Nomura increased 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Celanese presently has a consensus rating of “Buy” and a consensus price target of $107.74.
Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.01. The business had revenue of $1.57 billion for 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 firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. analysts forecast that Celanese Co. will post 7.37 earnings per share for the current fiscal year.
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 transaction, the chief financial officer now 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 SEC, which is available through the SEC website. Also, Director John K. Wulff sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the completion of 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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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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