New England Research & Management Inc. Acquires Shares of 11,090 Celanese Co. (NYSE:CE)

New England Research & Management Inc. bought a new stake in Celanese Co. (NYSE:CE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,090 shares of the basic materials company’s stock, valued at approximately $768,000.

A number of other institutional investors have also recently made changes to their positions in the company. Forsta AP Fonden raised its position in shares of Celanese by 76.5% in the fourth quarter. Forsta AP Fonden now owns 38,300 shares of the basic materials company’s stock valued at $2,651,000 after purchasing an additional 16,600 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Celanese by 55.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,516 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 1,248 shares during the period. R Squared Ltd purchased a new position in shares of Celanese in the fourth quarter valued at $91,000. Twelve Points Wealth Management LLC lifted its holdings in Celanese by 157.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 10,124 shares of the basic materials company’s stock worth $701,000 after purchasing an additional 6,197 shares in the last quarter. Finally, CKW Financial Group boosted its stake in Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Trading Down 1.1 %

NYSE CE opened at $71.07 on Thursday. The firm has a market cap of $7.77 billion, a PE ratio of 7.15, a price-to-earnings-growth ratio of 1.46 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 stock has a 50-day moving average of $70.28 and a 200-day moving average of $105.54. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last released its quarterly earnings data 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 company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the company posted $2.50 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Celanese Co. will post 8.11 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CE. Piper Sandler lowered their price target on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and reduced their price target for the company from $135.00 to $110.00 in a research report on Wednesday, November 6th. Barclays lowered their price objective on Celanese from $101.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 19th. BMO Capital Markets cut Celanese from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $138.00 to $76.00 in a research report on Monday, November 11th. Finally, Wells Fargo & Company cut Celanese from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.82.

Celanese Company Profile

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.