Nissay Asset Management Corp Japan ADV reduced its position in shares of Celanese Co. (NYSE:CE) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,855 shares of the basic materials company’s stock after selling 130 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Celanese were worth $1,024,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CE. Wellington Management Group LLP grew its position in shares of Celanese by 14.2% in the first quarter. Wellington Management Group LLP now owns 9,675,863 shares of the basic materials company’s stock valued at $710,112,000 after purchasing an additional 1,204,200 shares in the last quarter. Norges Bank purchased a new stake in shares of Celanese in the fourth quarter valued at approximately $121,772,000. Capital International Investors grew its position in shares of Celanese by 7.7% in the first quarter. Capital International Investors now owns 7,642,542 shares of the basic materials company’s stock valued at $560,886,000 after purchasing an additional 548,661 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Celanese by 14.3% in the first quarter. Wells Fargo & Company MN now owns 3,124,745 shares of the basic materials company’s stock valued at $229,324,000 after purchasing an additional 390,262 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Celanese by 57.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 801,628 shares of the basic materials company’s stock valued at $58,831,000 after purchasing an additional 291,450 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Robert W. Baird upped their price target on Celanese from $100.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada upped their price target on Celanese from $100.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. upgraded Celanese from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $83.00 to $110.00 in a report on Thursday. Cfra upped their price objective on Celanese from $81.00 to $86.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. Finally, UBS Group upped their price objective on Celanese from $88.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $105.95.
Celanese (NYSE:CE) last released its quarterly earnings results on Tuesday, July 28th. The basic materials company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.25. Celanese had a return on equity of 33.49% and a net margin of 11.13%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $2.38 earnings per share. The firm’s revenue was down 25.1% compared to the same quarter last year. On average, sell-side analysts expect that Celanese Co. will post 6.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, July 24th. Celanese’s payout ratio is currently 26.02%.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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