Tudor Investment Corp ET AL increased its position in shares of Celanese Corporation (NYSE:CE) by 69.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,264 shares of the basic materials company’s stock after acquiring an additional 2,164 shares during the period. Tudor Investment Corp ET AL’s holdings in Celanese Corporation were worth $500,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC purchased a new position in Celanese Corporation in the 1st quarter worth about $217,000. Morgan Stanley increased its stake in Celanese Corporation by 84.9% in the 1st quarter. Morgan Stanley now owns 395,279 shares of the basic materials company’s stock worth $35,514,000 after purchasing an additional 181,484 shares in the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Celanese Corporation in the 2nd quarter worth about $15,843,000. Swiss National Bank increased its stake in Celanese Corporation by 1.2% in the 2nd quarter. Swiss National Bank now owns 513,530 shares of the basic materials company’s stock worth $48,755,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Nomura Holdings Inc. increased its stake in Celanese Corporation by 32.4% in the 1st quarter. Nomura Holdings Inc. now owns 3,414 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 835 shares in the last quarter. 97.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Celanese Corporation (CE) opened at 106.90 on Wednesday. The stock’s 50 day moving average price is $101.32 and its 200 day moving average price is $94.21. Celanese Corporation has a one year low of $63.02 and a one year high of $109.09. The firm has a market capitalization of $14.70 billion, a price-to-earnings ratio of 18.19 and a beta of 1.31.
Celanese Corporation (NYSE:CE) last posted its quarterly earnings data on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Celanese Corporation had a return on equity of 31.23% and a net margin of 14.89%. Celanese Corporation’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. Analysts expect that Celanese Corporation will post $7.33 EPS for the current fiscal year.
Celanese Corporation declared that its board has authorized a stock repurchase program on Monday, July 17th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts recently weighed in on CE shares. BidaskClub cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Monday, July 17th. KeyCorp reissued a “buy” rating and issued a $106.00 price target on shares of Celanese Corporation in a research note on Thursday, August 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $109.00 price target on shares of Celanese Corporation in a research note on Wednesday, September 6th. Finally, ValuEngine cut Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Celanese Corporation has an average rating of “Buy” and a consensus price target of $103.24.
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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