State Board of Administration of Florida Retirement System lowered its holdings in shares of Celanese Co. (NYSE:CE – Free Report) by 14.2% during the third quarter, HoldingsChannel.com reports. The firm owned 87,806 shares of the basic materials company’s stock after selling 14,520 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Celanese were worth $11,021,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. NorthRock Partners LLC purchased a new position in shares of Celanese in the second quarter valued at approximately $209,000. Handelsbanken Fonder AB lifted its position in shares of Celanese by 3.5% in the third quarter. Handelsbanken Fonder AB now owns 34,937 shares of the basic materials company’s stock valued at $4,385,000 after acquiring an additional 1,168 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Celanese by 12.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 101,242 shares of the basic materials company’s stock valued at $12,708,000 after acquiring an additional 11,442 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Celanese by 231.4% in the second quarter. Mackenzie Financial Corp now owns 116,374 shares of the basic materials company’s stock valued at $13,606,000 after acquiring an additional 81,261 shares in the last quarter. Finally, Evercore Wealth Management LLC lifted its position in Celanese by 6.6% during the second quarter. Evercore Wealth Management LLC now owns 739,471 shares of the basic materials company’s stock worth $85,631,000 after buying an additional 45,619 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.
Celanese Price Performance
NYSE:CE opened at $151.66 on Tuesday. Celanese Co. has a 52 week low of $97.12 and a 52 week high of $159.06. The company has a quick ratio of 0.98, a current ratio of 1.63 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $16.51 billion, a P/E ratio of 8.17, a P/E/G ratio of 4.05 and a beta of 1.36. The stock’s fifty day moving average is $148.54 and its two-hundred day moving average is $132.35.
Celanese Dividend Announcement
Analyst Ratings Changes
A number of equities analysts recently commented on the company. UBS Group lifted their price objective on Celanese from $169.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Citigroup lifted their price objective on Celanese from $130.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. KeyCorp lifted their price objective on Celanese from $150.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reduced their price objective on Celanese from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Finally, StockNews.com downgraded Celanese from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $136.29.
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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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