Connable Office Inc. maintained its stake in Celanese Corporation (NYSE:CE) during the second quarter, Holdings Channel reports. The institutional investor owned 2,318 shares of the basic materials company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Celanese Corporation were worth $220,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in CE. Honkamp Krueger Financial Services Inc. increased its stake in Celanese Corporation by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,670 shares of the basic materials company’s stock worth $253,000 after buying an additional 10 shares during the period. Atria Investments LLC increased its stake in Celanese Corporation by 0.8% in the second quarter. Atria Investments LLC now owns 2,381 shares of the basic materials company’s stock worth $226,000 after buying an additional 19 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in Celanese Corporation by 0.3% in the first quarter. Jaffetilchin Investment Partners LLC now owns 6,578 shares of the basic materials company’s stock worth $591,000 after buying an additional 22 shares during the period. Financial Architects Inc increased its stake in Celanese Corporation by 2.2% in the second quarter. Financial Architects Inc now owns 1,959 shares of the basic materials company’s stock worth $186,000 after buying an additional 43 shares during the period. Finally, Whittier Trust Co. increased its stake in Celanese Corporation by 0.9% in the first quarter. Whittier Trust Co. now owns 5,044 shares of the basic materials company’s stock worth $453,000 after buying an additional 44 shares during the period.

Shares of Celanese Corporation (NYSE:CE) opened at 96.71 on Friday. The company has a market capitalization of $13.30 billion, a P/E ratio of 16.45 and a beta of 1.28. The company has a 50 day moving average of $96.36 and a 200-day moving average of $90.67. Celanese Corporation has a 12-month low of $60.59 and a 12-month high of $99.97.

Celanese Corporation (NYSE:CE) last announced its quarterly earnings results on Monday, July 24th. The basic materials company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.03. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.44 billion. Celanese Corporation had a net margin of 14.89% and a return on equity of 31.23%. Celanese Corporation’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company posted $1.59 EPS. On average, equities analysts anticipate that Celanese Corporation will post $7.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Friday, July 28th were given a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.90%. Celanese Corporation’s dividend payout ratio is 31.24%.

Celanese Corporation announced that its Board of Directors has authorized a share repurchase 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 purchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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A number of research firms have commented on CE. Instinet boosted their price target on shares of Celanese Corporation from $77.00 to $88.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Citigroup Inc. boosted their price target on shares of Celanese Corporation from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. UBS AG restated a “neutral” rating and set a $95.00 price target (up from $90.00) on shares of Celanese Corporation in a research report on Thursday, June 22nd. Vertical Research downgraded shares of Celanese Corporation from a “buy” rating to a “hold” rating and boosted their price target for the stock from $101.00 to $103.00 in a research report on Monday, July 10th. They noted that the move was a valuation call. Finally, Alembic Global Advisors restated a “sell” rating on shares of Celanese Corporation in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $100.55.

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

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