Celanese Corporation (CE) Holdings Boosted by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Celanese Corporation (NYSE:CE) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,354 shares of the company’s stock after purchasing an additional 871 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Celanese Corporation were worth $2,018,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CE. Koch Industries Inc. acquired a new position in shares of Celanese Corporation during the second quarter valued at approximately $289,000. Uniplan Investment Counsel Inc. acquired a new position in shares of Celanese Corporation during the second quarter valued at approximately $15,843,000. Swiss National Bank raised its holdings in shares of Celanese Corporation by 1.2% during the second quarter. Swiss National Bank now owns 513,530 shares of the company’s stock valued at $48,755,000 after acquiring an additional 6,100 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Celanese Corporation during the second quarter valued at approximately $8,922,000. Finally, SG Americas Securities LLC raised its holdings in shares of Celanese Corporation by 166.7% during the second quarter. SG Americas Securities LLC now owns 10,683 shares of the company’s stock valued at $1,014,000 after acquiring an additional 6,677 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.
CE has been the subject of a number of research analyst reports. Zacks Investment Research raised Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Monday, July 17th. Nomura increased their target price on Celanese Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 19th. BidaskClub cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. UBS AG reissued a “neutral” rating and set a $100.00 target price (up previously from $95.00) on shares of Celanese Corporation in a report on Tuesday, July 25th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. One equities 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 assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$107.74.
Celanese Corporation (NYSE CE) opened at C$105.72 on Friday. The firm has a market capitalization of $14,339.44, a P/E ratio of 15.00, a P/E/G ratio of 1.59 and a beta of 1.31. Celanese Corporation has a 52-week low of C$75.79 and a 52-week high of C$109.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16.
Celanese Corporation (NYSE:CE) last issued its quarterly earnings data on Monday, October 16th. The company reported C$1.93 earnings per share for the quarter, topping the consensus estimate of C$1.92 by C$0.01. The company had revenue of C$1.57 billion during the quarter, compared to analyst estimates of C$1.49 billion. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.67 earnings per share. analysts anticipate that Celanese Corporation will post 7.37 EPS for the current fiscal year.
Celanese Corporation declared that its board has approved a stock repurchase program on Monday, July 17th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Monday, October 30th were given a $0.46 dividend. The ex-dividend date was Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.74%. Celanese Corporation’s payout ratio is 32.11%.
In other news, 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 completion of the transaction, the director now directly owns 30,175 shares in the company, valued at C$3,194,929. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of C$104.68, for a total value of C$104,680.00. Following the transaction, the chief financial officer now owns 60,086 shares of the company’s stock, valued at C$6,289,802.48. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
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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