Breton Hill Capital Ltd. grew its position in shares of Celanese Corporation (NYSE:CE) by 72.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,636 shares of the company’s stock after buying an additional 1,942 shares during the quarter. Breton Hill Capital Ltd.’s holdings in Celanese Corporation were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of CE. JPMorgan Chase & Co. grew its stake in shares of Celanese Corporation by 33.5% during the second quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the company’s stock valued at $284,749,000 after purchasing an additional 752,057 shares during the last quarter. Boston Partners grew its stake in shares of Celanese Corporation by 28.0% during the second quarter. Boston Partners now owns 2,850,620 shares of the company’s stock valued at $270,637,000 after purchasing an additional 623,671 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Celanese Corporation by 33.2% during the second quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the company’s stock valued at $191,171,000 after purchasing an additional 501,469 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Celanese Corporation by 277.5% during the second quarter. Nordea Investment Management AB now owns 597,713 shares of the company’s stock valued at $56,747,000 after purchasing an additional 439,378 shares during the last quarter. Finally, Standard Life Investments LTD bought a new stake in shares of Celanese Corporation during the second quarter valued at approximately $38,550,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on the stock. Cowen and Company reissued an “outperform” rating and set a $115.00 price target (up from $100.00) on shares of Celanese Corporation in a research note on Wednesday, August 9th. ValuEngine cut shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price target on shares of Celanese Corporation in a research note on Thursday, October 19th. BidaskClub cut shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Celanese Corporation from $109.00 to $115.00 and gave the company an “outperform” rating 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, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$107.74.
In related news, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of C$104.68, for a total transaction of C$104,680.00. Following the sale, the chief financial officer now directly owns 60,086 shares in the company, valued at C$6,289,802.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John K. Wulff sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of C$105.88, for a total transaction of C$264,700.00. Following the sale, the director now owns 30,175 shares in the company, valued at C$3,194,929. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Celanese Corporation (CE) traded up C$0.72 on Friday, reaching C$105.72. 805,710 shares of the company’s stock traded hands, compared to its average volume of 741,223. 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 firm has a market capitalization of $14,339.44, a price-to-earnings ratio of 15.00, a PEG ratio of 1.59 and a beta of 1.31. Celanese Corporation has a 12 month low of C$75.79 and a 12 month high of C$109.11.
Celanese Corporation (NYSE:CE) last posted its earnings results on Monday, October 16th. The company reported C$1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.92 by C$0.01. The company had revenue of C$1.57 billion for the quarter, compared to analyst estimates of C$1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. research analysts forecast that Celanese Corporation will post 7.37 earnings per share for the current fiscal year.
Celanese Corporation announced that its Board of Directors has approved a share repurchase program on Monday, July 17th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.74%. Celanese Corporation’s dividend payout ratio (DPR) is presently 32.11%.
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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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