WESCAP Management Group Inc. lessened its stake in Celanese Corporation (NYSE:CE) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,243 shares of the basic materials company’s stock after selling 1,288 shares during the quarter. Celanese Corporation makes up approximately 1.1% of WESCAP Management Group Inc.’s holdings, making the stock its 23rd biggest holding. WESCAP Management Group Inc.’s holdings in Celanese Corporation were worth $2,424,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. grew its position in shares of Celanese Corporation by 5.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,683,032 shares of the basic materials company’s stock valued at $175,490,000 after buying an additional 88,311 shares during the last quarter. Cipher Capital LP bought a new position in Celanese Corporation in the 3rd quarter worth about $2,196,000. Macquarie Group Ltd. grew its position in Celanese Corporation by 10.2% in 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 during the last quarter. Ameriprise Financial Inc. grew its position in Celanese Corporation by 57.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 228,232 shares of the basic materials company’s stock worth $23,796,000 after purchasing an additional 82,859 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Celanese Corporation by 10.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,700 shares of the basic materials company’s stock worth $2,158,000 after purchasing an additional 2,035 shares during the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.
CE has been the subject of a number of research analyst reports. ValuEngine raised shares of Celanese Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and issued a $106.00 price target on shares of Celanese Corporation in a research note on Thursday, August 24th. UBS AG reaffirmed a “neutral” rating and issued a $100.00 price target (up from $95.00) on shares of Celanese Corporation in a research note on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $109.00 price target on shares of Celanese Corporation in a research note on Wednesday, September 6th. Finally, Cowen and Company upped their price target on shares of Celanese Corporation from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Celanese Corporation currently has a consensus rating of “Buy” and a consensus price target of $107.74.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.01. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $1.67 EPS. The business’s revenue was up 18.4% on a year-over-year basis. research analysts anticipate that Celanese Corporation will post 7.37 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Friday, October 27th. Celanese Corporation’s dividend payout ratio (DPR) is presently 31.62%.
In related news, CFO Christopher W. Jensen sold 1,000 shares of the stock in a transaction dated Monday, October 30th. The shares were 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 owns 60,086 shares in the company, valued at approximately $6,289,802.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John K. Wulff sold 2,500 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the sale, the director now owns 30,175 shares of the company’s stock, valued at approximately $3,194,929. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
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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