Pioneer Investment Management Inc. Increases Position in Celanese Corporation (CE)
Pioneer Investment Management Inc. boosted its position in shares of Celanese Corporation (NYSE:CE) by 18.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 810,295 shares of the basic materials company’s stock after buying an additional 125,354 shares during the period. Pioneer Investment Management Inc.’s holdings in Celanese Corporation were worth $76,929,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the stock. Investment Counselors of Maryland LLC purchased a new position in shares of Celanese Corporation during the first quarter worth about $125,000. Barrett Asset Management LLC purchased a new position in shares of Celanese Corporation during the second quarter worth about $142,000. Toronto Dominion Bank raised its position in shares of Celanese Corporation by 27.4% in the first quarter. Toronto Dominion Bank now owns 1,597 shares of the basic materials company’s stock worth $144,000 after buying an additional 343 shares during the last quarter. Financial Architects Inc raised its position in shares of Celanese Corporation by 104.0% in the first quarter. Financial Architects Inc now owns 1,916 shares of the basic materials company’s stock worth $172,000 after buying an additional 977 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Celanese Corporation by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,919 shares of the basic materials company’s stock worth $182,000 after buying an additional 122 shares during the last quarter.
Shares of Celanese Corporation (NYSE:CE) opened at 98.78 on Tuesday. Celanese Corporation has a 12 month low of $60.59 and a 12 month high of $99.97. The firm has a market cap of $13.59 billion, a P/E ratio of 16.81 and a beta of 1.28. The stock’s 50 day moving average price is $95.24 and its 200-day moving average price is $89.98.
Celanese Corporation (NYSE:CE) last released its earnings results on Monday, July 24th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.03. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts anticipate that Celanese Corporation will post $7.33 earnings per share for the current fiscal year.
Celanese Corporation announced that its board has approved a share repurchase program on Monday, July 17th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 10.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Friday, July 28th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, July 26th. Celanese Corporation’s dividend payout ratio is presently 31.24%.
TRADEMARK VIOLATION WARNING: This piece was reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/08/08/pioneer-investment-management-inc-increases-position-in-celanese-corporation-ce.html.
A number of equities analysts have issued reports on the company. UBS AG reaffirmed a “neutral” rating and set a $95.00 price target (up from $90.00) on shares of Celanese Corporation in a research note on Thursday, June 22nd. BidaskClub lowered Celanese Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Instinet increased their price target on Celanese Corporation from $77.00 to $88.00 and gave the company a “neutral” rating in a research note on Wednesday, April 19th. Citigroup Inc. increased their price target on Celanese Corporation from $100.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, Barclays PLC decreased their price target on Celanese Corporation from $105.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine 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 an average price target of $98.99.
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.
Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Corporation (NYSE:CE).
Receive News & Ratings for Celanese Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese Corporation and related companies with MarketBeat.com's FREE daily email newsletter.