QS Investors LLC Purchases 2,241 Shares of Celanese Corporation (CE)

QS Investors LLC grew its position in shares of Celanese Corporation (NYSE:CE) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,367 shares of the basic materials company’s stock after purchasing an additional 2,241 shares during the quarter. QS Investors LLC’s holdings in Celanese Corporation were worth $984,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CE. JPMorgan Chase & Co. increased its position in shares of Celanese Corporation by 33.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock valued at $284,749,000 after purchasing an additional 752,057 shares during the last quarter. Boston Partners increased its position in shares of Celanese Corporation 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 purchasing an additional 623,671 shares during the last quarter. FMR LLC increased its position in shares of Celanese Corporation by 41.5% during the 1st quarter. FMR LLC now owns 1,714,126 shares of the basic materials company’s stock valued at $154,014,000 after purchasing an additional 502,497 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Celanese Corporation 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 purchasing an additional 501,469 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Celanese Corporation by 277.5% during the 2nd quarter. Nordea Investment Management AB now owns 597,713 shares of the basic materials company’s stock valued at $56,747,000 after purchasing an additional 439,378 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Celanese Corporation (NYSE CE) opened at 107.03 on Friday. Celanese Corporation has a 52-week low of $63.02 and a 52-week high of $109.09. The company’s 50-day moving average price is $101.84 and its 200-day moving average price is $94.39. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 18.21 and a beta of 1.31.

Celanese Corporation (NYSE:CE) last posted its earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.44 billion. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. Celanese Corporation’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. Equities research analysts expect that Celanese Corporation will post $7.31 EPS for the current fiscal year.

Celanese Corporation announced that its board has authorized a share repurchase program on Monday, July 17th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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CE has been the subject of several analyst reports. Nomura increased their target price on Celanese Corporation from $97.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. ValuEngine cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Cowen and Company increased their target price on Celanese Corporation from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, September 20th. Royal Bank Of Canada restated a “buy” rating and set a $109.00 target price on shares of Celanese Corporation in a report on Wednesday, September 6th. Finally, KeyCorp restated a “buy” rating and set a $106.00 target price on shares of Celanese Corporation in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $103.24.

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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Institutional Ownership by Quarter for Celanese Corporation (NYSE:CE)

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