Tyers Asset Management LLC bought a new position in shares of Celanese Co. (NYSE:CE) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 28,176 shares of the basic materials company’s stock, valued at approximately $2,778,000.
A number of other hedge funds have also recently added to or reduced their stakes in CE. BlackRock Inc. boosted its stake in shares of Celanese by 29.0% during the 4th quarter. BlackRock Inc. now owns 9,467,199 shares of the basic materials company’s stock worth $851,766,000 after buying an additional 2,127,883 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Celanese by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 2,967,489 shares of the basic materials company’s stock worth $292,624,000 after buying an additional 146,569 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Celanese by 30.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,454,977 shares of the basic materials company’s stock worth $220,874,000 after buying an additional 569,316 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Celanese by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock worth $186,634,000 after buying an additional 323,714 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Celanese by 61.5% during the 4th quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock worth $163,756,000 after buying an additional 694,491 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.
In other news, Director John K. Wulff sold 9,175 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the transaction, the director now directly owns 19,872 shares of the company’s stock, valued at $2,152,535.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.
CE has been the subject of a number of recent research reports. ValuEngine downgraded shares of Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Zacks Investment Research upgraded shares of Celanese from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. Barclays reduced their price objective on shares of Celanese from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Deutsche Bank downgraded shares of Celanese from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research note on Sunday, April 14th. Finally, Alembic Global Advisors set a $95.00 target price on shares of Celanese and gave the company a “sell” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Celanese presently has a consensus rating of “Hold” and an average target price of $119.53.
CE stock traded up $0.73 during mid-day trading on Wednesday, hitting $104.35. 310,525 shares of the company were exchanged, compared to its average volume of 1,140,550. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $13.26 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38. Celanese Co. has a 1-year low of $82.91 and a 1-year high of $119.29.
Celanese (NYSE:CE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.13. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $2.79 earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, research analysts expect that Celanese Co. will post 10.54 EPS for the current year.
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Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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