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Celanese Corp executive purchases $219k in company stock

Published 03/15/2024, 04:27 PM
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In a recent transaction, Thomas Francis Kelly, the Senior Vice President of Engineered Materials at Celanese Corp (NYSE:CE), acquired shares of the company's stock, signaling confidence in the firm's prospects. On March 14, 2024, Kelly purchased 1,400 shares at a price of $156.695 per share, amounting to a total investment of approximately $219,373.

This purchase has increased Kelly's direct ownership in the company to a total of 57,023 shares. Such transactions are often closely monitored by investors as they can indicate an executive's belief in the company's future performance.

Celanese Corp, known for its specialization in plastic materials, synthetic resin, and rubber within the industrial applications and services sector, is headquartered in Irving, Texas. The company's stock trades on the New York Stock Exchange under the ticker symbol NYSE:CE.

The acquisition of shares by a senior executive is a noteworthy event, as it reflects a personal financial commitment to the company's success. For investors, these insider transactions can provide insight into how the company's leadership views the stock's value and potential.

InvestingPro Insights

Following the recent insider acquisition by Thomas Francis Kelly at Celanese Corp, investors may find additional context through real-time data and insights from InvestingPro. With a market capitalization of $17.79 billion and a robust revenue growth of 13.1% over the last twelve months as of Q1 2023, the company shows signs of financial health and expansion.

An InvestingPro Tip highlights that Celanese Corp has raised its dividend for 14 consecutive years, which may appeal to income-focused investors. Additionally, the company's history of maintaining dividend payments for 20 consecutive years underscores its commitment to shareholder returns. These factors, combined with a dividend yield of 1.77%, could be particularly compelling for those seeking steady income streams.

InvestingPro Data metrics indicate that Celanese Corp is trading at a P/E ratio of 8.88, which suggests a potentially attractive valuation relative to earnings. The stock's price is also nearing its 52-week high, at 98.92% of this peak, reflecting a strong performance with a one-year price total return of 57.79%.

For investors considering a deeper dive into Celanese Corp's financials and future prospects, InvestingPro offers additional insights. There are more InvestingPro Tips available, such as the company's strong free cash flow yield and its low price volatility, which may be of interest to those evaluating the stock's stability and potential for long-term growth. To access these insights and more, visit https://www.investing.com/pro/CE and remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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