Celanese Corporation (NYSE:CE) CFO Christopher W. Jensen sold 1,000 shares of Celanese Corporation stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $104.68, for a total transaction of $104,680.00. Following the transaction, the chief financial officer now directly owns 60,086 shares in the company, valued at approximately $6,289,802.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Celanese Corporation (NYSE:CE) traded down 0.18% on Monday, reaching $104.84. 747,070 shares of the company were exchanged. The firm has a market capitalization of $14.32 billion, a P/E ratio of 18.38 and a beta of 1.31. Celanese Corporation has a 12-month low of $71.24 and a 12-month high of $109.11. The firm has a 50-day moving average of $104.24 and a 200 day moving average of $95.56.

Celanese Corporation (NYSE:CE) last released its quarterly earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.01. Celanese Corporation had a net margin of 13.66% and a return on equity of 31.98%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $1.67 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts predict that Celanese Corporation will post $7.37 earnings per share for the current year.

Celanese Corporation declared that its board has authorized a stock buyback program on Monday, July 17th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Monday, October 30th will be given a $0.46 dividend. The ex-dividend date is Friday, October 27th. This represents a $1.84 annualized dividend and a yield of 1.76%. Celanese Corporation’s payout ratio is presently 32.11%.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in CE. Northwestern Mutual Wealth Management Co. raised its position in Celanese Corporation by 24.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 206 shares during the period. Barrett Asset Management LLC bought a new position in Celanese Corporation in the second quarter worth approximately $142,000. Fiduciary Trust Co. bought a new position in Celanese Corporation in the second quarter worth approximately $150,000. Toronto Dominion Bank raised its position in Celanese Corporation by 8.4% in the second quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 134 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in 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 acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 98.52% of the company’s stock.

Several research firms have commented on CE. ValuEngine cut shares of Celanese Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 6th. Nomura lifted their price target on shares of Celanese Corporation from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, October 10th. Instinet reaffirmed a “neutral” rating and issued a $100.00 price target (up previously from $97.00) on shares of Celanese Corporation in a report on Friday, October 13th. KeyCorp lifted their price target on shares of Celanese Corporation from $106.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Finally, UBS AG lifted their price target on shares of Celanese Corporation from $100.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $107.74.

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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