Old Mutual Global Investors UK Ltd. lowered its stake in shares of Celanese Corporation (NYSE:CE) by 42.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 790,397 shares of the basic materials company’s stock after selling 572,813 shares during the quarter. Old Mutual Global Investors UK Ltd. owned about 0.58% of Celanese Corporation worth $82,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Celanese Corporation by 33.5% in the second quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock worth $284,749,000 after purchasing an additional 752,057 shares during the period. Boston Partners grew its holdings in Celanese Corporation by 28.0% in the second quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock worth $270,637,000 after purchasing an additional 623,671 shares during the period. Victory Capital Management Inc. grew its holdings in Celanese Corporation by 33.2% in the second quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock worth $191,171,000 after purchasing an additional 501,469 shares during the period. Nordea Investment Management AB grew its holdings in Celanese Corporation by 277.5% in the second quarter. Nordea Investment Management AB now owns 597,713 shares of the basic materials company’s stock worth $56,747,000 after purchasing an additional 439,378 shares during the period. Finally, Standard Life Investments LTD purchased a new stake in Celanese Corporation in the second quarter worth about $38,550,000. Institutional investors own 98.45% of the company’s stock.

Shares of Celanese Corporation (NYSE CE) traded down $0.26 during trading on Monday, hitting $105.87. 51,408 shares of the stock were exchanged, compared to its average volume of 813,727. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69. Celanese Corporation has a 52-week low of $71.24 and a 52-week high of $109.11. The stock has a market cap of $14,395.05, a P/E ratio of 15.05, a P/E/G ratio of 1.60 and a beta of 1.31.

Celanese Corporation (NYSE:CE) last released its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.01. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.49 billion. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. Celanese Corporation’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. equities research analysts expect that Celanese Corporation will post 7.37 earnings per share for the current fiscal year.

Celanese Corporation declared that its board has approved a share buyback plan on Monday, July 17th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Monday, October 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, October 27th. Celanese Corporation’s payout ratio is 32.11%.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Monday, July 17th. ValuEngine upgraded shares of Celanese Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating and set a $109.00 price objective on shares of Celanese Corporation in a research report on Wednesday, September 6th. BidaskClub downgraded shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Nomura increased their price target on shares of Celanese Corporation from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 19th. 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 given a strong buy rating to the company. Celanese Corporation currently has an average rating of “Buy” and a consensus price target of $107.74.

In other news, CFO Christopher W. Jensen sold 1,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $6,289,802.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John K. Wulff sold 2,500 shares of the company’s stock in a transaction on 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 directly owns 30,175 shares of the company’s stock, valued at approximately $3,194,929. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

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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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Institutional Ownership by Quarter for Celanese Corporation (NYSE:CE)

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