Access Financial Services Inc. Sells 2,734 Shares of Celanese Co. (NYSE:CE)

Access Financial Services Inc. reduced its stake in Celanese Co. (NYSE:CE) by 29.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,632 shares of the basic materials company’s stock after selling 2,734 shares during the period. Access Financial Services Inc.’s holdings in Celanese were worth $459,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. DT Investment Partners LLC increased its stake in shares of Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Celanese during the second quarter valued at approximately $28,000. Mather Group LLC. increased its stake in shares of Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 222 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Celanese by 51.1% during the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 382 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Celanese by 1,395.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 600 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

Celanese Trading Up 1.1 %

Shares of Celanese stock opened at $72.70 on Monday. The company’s fifty day simple moving average is $70.47 and its 200-day simple moving average is $108.85. The stock has a market capitalization of $7.95 billion, a PE ratio of 7.31, a P/E/G ratio of 0.62 and a beta of 1.18. Celanese Co. has a 1-year low of $64.05 and a 1-year high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76.

Celanese (NYSE:CE) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the firm posted $2.50 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Celanese Co. will post 8.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CE. Piper Sandler decreased their target price on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company downgraded shares of Celanese from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $165.00 to $115.00 in a research report on Tuesday, November 5th. KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Jefferies Financial Group reduced their price target on shares of Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Finally, BMO Capital Markets downgraded shares of Celanese from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $138.00 to $76.00 in a research report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Celanese currently has an average rating of “Hold” and an average price target of $106.00.

About Celanese

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.