Celanese Corporation (CE) Shares Sold by KBC Group NV
KBC Group NV cut its position in shares of Celanese Corporation (NYSE:CE) by 5.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,946 shares of the basic materials company’s stock after selling 1,109 shares during the period. KBC Group NV’s holdings in Celanese Corporation were worth $1,704,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CE. Bank of Montreal Can boosted its position in Celanese Corporation by 117.4% in the first quarter. Bank of Montreal Can now owns 52,788 shares of the basic materials company’s stock valued at $4,742,000 after buying an additional 28,501 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Celanese Corporation by 1.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,819 shares of the basic materials company’s stock valued at $321,000 after buying an additional 67 shares in the last quarter. Shell Asset Management Co. boosted its position in Celanese Corporation by 14.3% in the first quarter. Shell Asset Management Co. now owns 23,389 shares of the basic materials company’s stock valued at $2,102,000 after buying an additional 2,924 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Celanese Corporation by 3.2% in the first quarter. Russell Investments Group Ltd. now owns 228,233 shares of the basic materials company’s stock valued at $20,504,000 after buying an additional 7,007 shares in the last quarter. Finally, Investment Counselors of Maryland LLC bought a new position in Celanese Corporation during the first quarter valued at $125,000. 97.22% of the stock is currently owned by institutional investors.
Shares of Celanese Corporation (CE) opened at 97.20 on Wednesday. The company’s 50 day moving average is $97.20 and its 200 day moving average is $91.48. Celanese Corporation has a 52-week low of $60.59 and a 52-week high of $99.97. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 16.54 and a beta of 1.28.
Celanese Corporation (NYSE:CE) last released its earnings results on Monday, July 24th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business earned $1.59 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Analysts anticipate that Celanese Corporation will post $7.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Friday, July 28th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, July 26th. Celanese Corporation’s payout ratio is currently 31.24%.
Celanese Corporation announced that its board has initiated a stock repurchase plan on Monday, July 17th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 10.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
CE has been the topic of several research analyst reports. BidaskClub cut shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC set a $104.00 price target on shares of Celanese Corporation and gave the company a “buy” rating in a report on Saturday, May 27th. Royal Bank Of Canada reissued a “buy” rating on shares of Celanese Corporation in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Monday, July 17th. Finally, KeyCorp reissued a “buy” rating and issued a $106.00 price target on shares of Celanese Corporation in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $102.17.
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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