Celanese Corporation (NYSE:CE) Stake Held by CENTRAL TRUST Co

CENTRAL TRUST Co continued to hold its position in shares of Celanese Corporation (NYSE:CE) during the second quarter, Holdings Channel reports. The institutional investor owned 1,123 shares of the basic materials company’s stock at the end of the second quarter. CENTRAL TRUST Co’s holdings in Celanese Corporation were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CE. Atria Investments LLC purchased a new stake in Celanese Corporation during the first quarter worth $212,000. Parametrica Management Ltd purchased a new stake in Celanese Corporation during the first quarter worth $284,000. Inverness Counsel LLC NY purchased a new stake in Celanese Corporation during the first quarter worth $10,105,000. Private Trust Co. NA purchased a new stake in Celanese Corporation during the first quarter worth $326,000. Finally, Bank of Montreal Can boosted its stake in Celanese Corporation by 117.4% in the first quarter. Bank of Montreal Can now owns 52,788 shares of the basic materials company’s stock worth $4,742,000 after buying an additional 28,501 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Celanese Corporation (NYSE:CE) opened at 97.66 on Friday. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 17.02 and a beta of 1.28. The company has a 50 day moving average of $93.53 and a 200 day moving average of $89.08. Celanese Corporation has a 12 month low of $60.59 and a 12 month high of $99.97.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Friday, July 28th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, July 26th. Celanese Corporation’s dividend payout ratio (DPR) is 32.11%.

Celanese Corporation declared that its Board of Directors has initiated a share buyback plan on Monday, July 17th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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A number of analysts have recently weighed in on the stock. Nomura restated a “hold” rating and issued a $88.00 price target on shares of Celanese Corporation in a report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) raised their price target on shares of Celanese Corporation from $103.00 to $110.00 and gave the company a “conviction-buy” rating in a report on Tuesday, April 4th. Jefferies Group LLC set a $104.00 price target on shares of Celanese Corporation and gave the company a “buy” rating in a report on Saturday, May 27th. Vetr upgraded shares of Celanese Corporation from a “buy” rating to a “strong-buy” rating and set a $103.79 price target on the stock in a report on Thursday, April 6th. Finally, Instinet raised their price target on shares of Celanese Corporation from $77.00 to $88.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Celanese Corporation has a consensus rating of “Buy” and an average price target of $98.67.

Celanese Corporation 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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