Celanese Corporation (CE) Stake Boosted by TCW Group Inc.

TCW Group Inc. raised its position in shares of Celanese Corporation (NYSE:CE) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,984 shares of the basic materials company’s stock after purchasing an additional 2,623 shares during the quarter. TCW Group Inc.’s holdings in Celanese Corporation were worth $3,022,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Celanese Corporation by 33.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock valued at $284,749,000 after acquiring an additional 752,057 shares during the last quarter. Boston Partners grew its position in Celanese Corporation by 28.0% in the 2nd quarter. Boston Partners now owns 2,850,620 shares of the basic materials company’s stock valued at $270,637,000 after acquiring an additional 623,671 shares during the last quarter. Victory Capital Management Inc. grew its position in Celanese Corporation by 33.2% in the 2nd quarter. Victory Capital Management Inc. now owns 2,013,602 shares of the basic materials company’s stock valued at $191,171,000 after acquiring an additional 501,469 shares during the last quarter. Nordea Investment Management AB grew its position in Celanese Corporation by 277.5% in the 2nd quarter. Nordea Investment Management AB now owns 597,713 shares of the basic materials company’s stock valued at $56,747,000 after acquiring an additional 439,378 shares during the last quarter. Finally, Standard Life Investments LTD bought a new position in Celanese Corporation in the 2nd quarter valued at $38,550,000. Institutional investors and hedge funds own 97.90% of the company’s stock.

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A number of equities analysts have recently issued reports on CE shares. UBS AG reissued a “neutral” rating and set a $100.00 price target (up previously from $95.00) on shares of Celanese Corporation in a research report on Tuesday, July 25th. BidaskClub downgraded Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada increased their price target on Celanese Corporation from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price target on shares of Celanese Corporation in a research report on Thursday, October 19th. Finally, KeyCorp reissued a “buy” rating and set a $106.00 price target on shares of Celanese Corporation in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Celanese Corporation presently has a consensus rating of “Buy” and an average target price of $107.74.

Shares of Celanese Corporation (NYSE:CE) traded up $1.10 during trading hours on Friday, hitting $104.23. The stock had a trading volume of 499,700 shares, compared to its average volume of 890,358. Celanese Corporation has a 1 year low of $75.79 and a 1 year high of $109.11. The stock has a market capitalization of $13,988.14, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. 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 (NYSE:CE) last announced its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.01. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the business posted $1.67 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. research analysts expect that Celanese Corporation will post 7.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Monday, October 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, October 27th. Celanese Corporation’s payout ratio is 32.11%.

In related news, Director John K. Wulff sold 2,500 shares of the firm’s stock in a transaction dated 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 $3,194,929. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher W. Jensen sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $104.68, for a total value of $104,680.00. Following the sale, the chief financial officer now directly owns 60,086 shares in the company, valued at $6,289,802.48. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

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.

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

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