Advisor Group Holdings Inc. boosted its holdings in Celanese Co. (NYSE:CE) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,295 shares of the basic materials company’s stock after buying an additional 550 shares during the period. Advisor Group Holdings Inc.’s holdings in Celanese were worth $3,208,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. increased its position in Celanese by 2.8% in the 2nd quarter. BlackRock Inc. now owns 7,835,849 shares of the basic materials company’s stock worth $1,187,914,000 after buying an additional 212,420 shares during the period. State Street Corp grew its holdings in shares of Celanese by 6.8% during the 2nd quarter. State Street Corp now owns 5,677,055 shares of the basic materials company’s stock worth $860,642,000 after purchasing an additional 363,633 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Celanese by 15.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,527,698 shares of the basic materials company’s stock worth $534,800,000 after purchasing an additional 477,620 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Celanese by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,926,125 shares of the basic materials company’s stock worth $291,154,000 after purchasing an additional 30,749 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Celanese by 5.3% during the 3rd quarter. LSV Asset Management now owns 1,739,569 shares of the basic materials company’s stock worth $262,048,000 after purchasing an additional 86,980 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on CE. KeyCorp lifted their price objective on Celanese from $180.00 to $187.00 and gave the stock an “overweight” rating in a report on Monday, October 25th. Citigroup lifted their price objective on Celanese from $198.00 to $206.00 in a report on Tuesday. Morgan Stanley lifted their price objective on Celanese from $157.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company reissued a “buy” rating on shares of Celanese in a report on Monday, December 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Celanese from $175.00 to $188.00 and gave the company a “buy” rating in a research note on Wednesday, October 20th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Celanese presently has a consensus rating of “Buy” and a consensus price target of $193.40.
Celanese (NYSE:CE) last released its earnings results on Wednesday, October 20th. The basic materials company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.07. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.19 billion. Celanese had a return on equity of 42.83% and a net margin of 35.90%. During the same quarter in the previous year, the company posted $1.95 earnings per share. As a group, equities research analysts anticipate that Celanese Co. will post 18.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Monday, November 1st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, October 29th. This represents a $2.72 dividend on an annualized basis and a yield of 1.57%. Celanese’s dividend payout ratio is presently 11.03%.
In related news, SVP Vanessa Dupuis sold 512 shares of the company’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $170.00, for a total value of $87,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.
Celanese Company Profile
Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities .The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.
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