Celanese Corporation (CE) is GMT Capital Corp’s Largest Position
GMT Capital Corp lowered its holdings in Celanese Corporation (NYSE:CE) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,033,800 shares of the basic materials company’s stock after selling 76,600 shares during the quarter. Celanese Corporation accounts for about 9.0% of GMT Capital Corp’s investment portfolio, making the stock its biggest holding. GMT Capital Corp owned 2.97% of Celanese Corporation worth $420,604,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Barrett Asset Management LLC grew its holdings in shares of Celanese Corporation by 40.0% in the third quarter. Barrett Asset Management LLC now owns 2,100 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 600 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Celanese Corporation by 5.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,683,032 shares of the basic materials company’s stock worth $175,490,000 after acquiring an additional 88,311 shares during the period. Cipher Capital LP bought a new stake in shares of Celanese Corporation in the third quarter worth $2,196,000. Macquarie Group Ltd. grew its holdings in shares of Celanese Corporation by 10.2% in the third quarter. Macquarie Group Ltd. now owns 157,840 shares of the basic materials company’s stock worth $16,458,000 after acquiring an additional 14,650 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Celanese Corporation by 57.0% in the third quarter. Ameriprise Financial Inc. now owns 228,232 shares of the basic materials company’s stock worth $23,796,000 after acquiring an additional 82,859 shares during the period. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Shares of Celanese Corporation (NYSE CE) opened at $105.93 on Friday. Celanese Corporation has a fifty-two week low of $75.79 and a fifty-two week high of $109.11. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $14,367.92, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31.
Celanese Corporation (NYSE:CE) last released its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese Corporation had a return on equity of 31.98% and a net margin of 13.66%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted $1.67 earnings per share. Celanese Corporation’s revenue for the quarter was up 18.4% on a year-over-year basis. equities research analysts expect that Celanese Corporation will post 7.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Monday, October 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, October 27th. Celanese Corporation’s dividend payout ratio is presently 32.11%.
Several analysts recently commented on CE shares. ValuEngine lowered Celanese Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. BidaskClub lowered Celanese Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen Inc reaffirmed an “outperform” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Celanese Corporation in a report on Wednesday, August 9th. Nomura lifted their price objective on Celanese Corporation from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, October 10th. Finally, UBS AG lifted their price objective on Celanese Corporation from $100.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $107.74.
In other news, CFO Christopher W. Jensen sold 1,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $104.68, for a total value of $104,680.00. Following the transaction, the chief financial officer now directly owns 60,086 shares in the company, valued at $6,289,802.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total value of $264,700.00. Following the completion of the transaction, the director now owns 30,175 shares in the company, valued at $3,194,929. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.
About Celanese Corporation
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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