Gulf International Bank UK Ltd lessened its position in shares of Celanese Co. (NYSE:CE) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,603 shares of the basic materials company’s stock after selling 1,308 shares during the period. Gulf International Bank UK Ltd’s holdings in Celanese were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of CE. Paloma Partners Management Co increased its holdings in shares of Celanese by 141.3% in the 2nd quarter. Paloma Partners Management Co now owns 20,323 shares of the basic materials company’s stock worth $3,081,000 after buying an additional 11,901 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Celanese by 3.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 37,512 shares of the basic materials company’s stock valued at $5,649,000 after buying an additional 1,179 shares during the period. Inverness Counsel LLC NY boosted its position in Celanese by 8.3% during the 3rd quarter. Inverness Counsel LLC NY now owns 226,866 shares of the basic materials company’s stock valued at $34,175,000 after buying an additional 17,427 shares during the period. Amundi purchased a new stake in Celanese during the 2nd quarter valued at $89,561,000. Finally, Bank of America Corp DE boosted its position in Celanese by 9.2% during the 2nd quarter. Bank of America Corp DE now owns 1,123,120 shares of the basic materials company’s stock valued at $170,264,000 after buying an additional 94,971 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.
In other Celanese news, SVP Vanessa Dupuis sold 512 shares of Celanese stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $170.00, for a total transaction of $87,040.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.
Celanese (NYSE:CE) last posted its quarterly earnings data on Wednesday, October 20th. The basic materials company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.07. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.19 billion. Celanese had a net margin of 35.90% and a return on equity of 42.83%. During the same quarter last year, the firm posted $1.95 earnings per share. As a group, analysts predict that Celanese Co. will post 18.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Monday, November 1st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, October 29th. Celanese’s dividend payout ratio is currently 11.03%.
Several brokerages have weighed in on CE. Citigroup increased their price target on shares of Celanese from $198.00 to $206.00 in a research report on Tuesday. Robert W. Baird raised their target price on shares of Celanese from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, October 25th. BMO Capital Markets raised their target price on shares of Celanese from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 26th. The Goldman Sachs Group decreased their price target on shares of Celanese from $197.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, December 15th. Finally, KeyCorp increased their price target on shares of Celanese from $180.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, October 25th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $193.40.
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.
Featured Article: How does a security become overbought?
Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Co. (NYSE:CE).
Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.