Ajo LP Lowers Holdings in Celanese Corporation (CE)

Ajo LP trimmed its stake in Celanese Corporation (NYSE:CE) by 26.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,115 shares of the basic materials company’s stock after selling 157,947 shares during the period. Ajo LP owned about 0.31% of Celanese Corporation worth $41,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CE. First Trust Advisors LP boosted its position in Celanese Corporation by 121.5% in the 1st quarter. First Trust Advisors LP now owns 112,848 shares of the basic materials company’s stock valued at $10,139,000 after buying an additional 61,897 shares during the period. Advisors Asset Management Inc. boosted its position in Celanese Corporation by 188.6% in the 1st quarter. Advisors Asset Management Inc. now owns 16,845 shares of the basic materials company’s stock valued at $1,514,000 after buying an additional 11,008 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Celanese Corporation by 39.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,874 shares of the basic materials company’s stock valued at $1,469,000 after buying an additional 4,480 shares during the period. Daiwa Securities Group Inc. boosted its position in Celanese Corporation by 8.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the basic materials company’s stock valued at $350,000 after buying an additional 300 shares during the period. Finally, US Bancorp DE boosted its position in Celanese Corporation by 28.5% in the 1st quarter. US Bancorp DE now owns 26,542 shares of the basic materials company’s stock valued at $2,385,000 after buying an additional 5,892 shares during the period. 97.24% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the stock. Nomura boosted their price objective on shares of Celanese Corporation from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Monday, July 17th. Cowen and Company restated an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. ValuEngine upgraded shares of Celanese Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Celanese Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $102.74.

Celanese Corporation (NYSE CE) opened at 99.275 on Wednesday. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 16.889 and a beta of 1.28. The company’s 50 day moving average is $96.95 and its 200 day moving average is $92.11. Celanese Corporation has a 1-year low of $60.59 and a 1-year high of $99.97.

Celanese Corporation (NYSE:CE) last issued its earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.03. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 earnings per share. Equities research analysts forecast that Celanese Corporation will post $7.33 EPS for the current year.

Celanese Corporation announced that its Board of Directors has authorized a stock buyback plan on Monday, July 17th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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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.

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

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