Bp Plc raised its stake in Celanese Corporation (NYSE:CE) by 100.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,000 shares of the basic materials company’s stock after buying an additional 18,000 shares during the period. Bp Plc’s holdings in Celanese Corporation were worth $3,417,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in CE. Investment Counselors of Maryland LLC purchased a new position in Celanese Corporation during the first quarter valued at $125,000. Toronto Dominion Bank increased its position in Celanese Corporation by 27.4% in the first quarter. Toronto Dominion Bank now owns 1,597 shares of the basic materials company’s stock valued at $144,000 after buying an additional 343 shares during the period. Financial Architects Inc increased its position in Celanese Corporation by 104.0% in the first quarter. Financial Architects Inc now owns 1,916 shares of the basic materials company’s stock valued at $172,000 after buying an additional 977 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Celanese Corporation by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock valued at $182,000 after buying an additional 122 shares during the period. Finally, Fifth Third Bancorp increased its position in Celanese Corporation by 31.5% in the first quarter. Fifth Third Bancorp now owns 2,005 shares of the basic materials company’s stock valued at $180,000 after buying an additional 480 shares during the period.
Shares of Celanese Corporation (NYSE:CE) opened at 97.69 on Thursday. The firm has a 50-day moving average of $96.23 and a 200-day moving average of $90.53. Celanese Corporation has a 1-year low of $60.59 and a 1-year high of $99.97. The firm has a market capitalization of $13.44 billion, a PE ratio of 16.62 and a beta of 1.28.
Celanese Corporation (NYSE:CE) last posted its earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business earned $1.59 EPS. Celanese Corporation’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Celanese Corporation will post $7.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Friday, July 28th were paid a dividend of $0.46 per share. The ex-dividend date was Wednesday, July 26th. This represents a $1.84 annualized dividend and a dividend yield of 1.88%. Celanese Corporation’s dividend payout ratio is currently 31.24%.
Celanese Corporation declared that its Board of Directors has authorized a stock repurchase program on Monday, July 17th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to purchase up to 10.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
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CE has been the topic of several analyst reports. Nomura reissued a “hold” rating and issued a $88.00 target price on shares of Celanese Corporation in a research report on Wednesday, April 19th. Cowen and Company reissued an “outperform” rating and issued a $90.00 target price (down from $99.00) on shares of Celanese Corporation in a research report on Wednesday, April 19th. Instinet lifted their target price on shares of Celanese Corporation from $77.00 to $88.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Deutsche Bank AG dropped their target price on shares of Celanese Corporation from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $104.00 target price (up from $100.00) on shares of Celanese Corporation in a research report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $100.55.
About Celanese Corporation
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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