Macquarie Group Ltd. Has $16.46 Million Position in Celanese Corporation (CE)
Macquarie Group Ltd. raised its stake in shares of Celanese Corporation (NYSE:CE) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157,840 shares of the basic materials company’s stock after purchasing an additional 14,650 shares during the period. Macquarie Group Ltd. owned 0.12% of Celanese worth $16,458,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in CE. Vanguard Group Inc. grew its holdings in Celanese by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,890,128 shares of the basic materials company’s stock worth $1,128,848,000 after acquiring an additional 153,112 shares during the period. JPMorgan Chase & Co. grew its holdings in Celanese by 33.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock worth $284,749,000 after acquiring an additional 752,057 shares during the period. Boston Partners grew its holdings in Celanese by 28.0% during the 2nd quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock worth $270,637,000 after acquiring an additional 623,671 shares during the period. LSV Asset Management grew its holdings in Celanese by 15.0% during the 2nd quarter. LSV Asset Management now owns 2,212,008 shares of the basic materials company’s stock worth $210,008,000 after acquiring an additional 288,356 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Celanese by 33.2% during the 2nd quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock worth $191,171,000 after acquiring an additional 501,469 shares during the period. 96.76% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the transaction, the chief financial officer now owns 60,086 shares of the company’s stock, valued at approximately $6,289,802.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John K. Wulff sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the completion of the transaction, the director now directly owns 30,175 shares in the company, valued at approximately $3,194,929. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
CE has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $109.00 price target on shares of Celanese in a report on Wednesday, September 6th. BidaskClub upgraded Celanese from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. KeyCorp reiterated a “buy” rating and set a $106.00 price target on shares of Celanese in a report on Thursday, August 24th. ValuEngine downgraded Celanese from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Finally, Citigroup Inc. decreased their price target on Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $107.74.
Shares of Celanese Corporation (NYSE CE) opened at $106.72 on Monday. Celanese Corporation has a 12 month low of $75.79 and a 12 month high of $109.11. The company has a market capitalization of $14,480.00, a PE ratio of 15.14, a PEG ratio of 1.61 and a beta of 1.31. 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 (NYSE:CE) last announced its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese had a net margin of 13.66% and a return on equity of 31.98%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. analysts anticipate that Celanese Corporation will post 7.37 earnings per share for the current year.
The firm also recently declared 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 of this dividend was Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.72%. Celanese’s payout ratio is 31.62%.
Celanese Company 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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