By otakuyassine3@gmail.com 
Oak Thistle LLC bought a new stake in shares of Celanese Co. (NYSE:CE – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,014 shares of the basic materials company’s stock, valued at approximately $555,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. DT Investment Partners LLC raised its position in Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 103 shares during the period. First Trust Direct Indexing L.P. lifted its stake in Celanese by 5.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock valued at $308,000 after buying an additional 111 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Celanese by 7.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,064 shares of the basic materials company’s stock worth $278,000 after buying an additional 135 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in Celanese by 0.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock worth $2,954,000 after buying an additional 145 shares in the last quarter. Finally, Neumann Capital Management LLC raised its holdings in shares of Celanese by 5.3% during the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on CE shares. Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and lowered their price target for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Wells Fargo & Company cut shares of Celanese from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $165.00 to $115.00 in a research report on Tuesday, November 5th. Morgan Stanley dropped their price objective on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday. BMO Capital Markets lowered shares of Celanese from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $138.00 to $76.00 in a research note on Monday, November 11th. Finally, UBS Group lowered Celanese from a “buy” rating to a “neutral” rating and dropped their price target for the company from $161.00 to $97.00 in a research report on Monday, November 11th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Celanese has an average rating of “Hold” and an average target price of $106.00.
View Our Latest Stock Report on CE
Celanese Price Performance
Shares of CE opened at $71.94 on Friday. The firm has a 50-day simple moving average of $70.71 and a two-hundred day simple moving average of $109.60. 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 Co. has a 1-year low of $64.05 and a 1-year high of $172.16. The stock has a market cap of $7.86 billion, a PE ratio of 7.24, a P/E/G ratio of 0.62 and a beta of 1.18.
Celanese (NYSE:CE – Get Free Report) last announced its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm earned $2.50 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts forecast that Celanese Co. will post 8.13 EPS for the current year.
Celanese 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.
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