Blair William & Co. IL raised its holdings in shares of Celanese Co. (NYSE:CE) by 33.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,884 shares of the basic materials company’s stock after buying an additional 722 shares during the period. Blair William & Co. IL’s holdings in Celanese were worth $289,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Compagnie Lombard Odier SCmA acquired a new position in shares of Celanese during the fourth quarter worth $160,000. Lido Advisors LLC acquired a new position in shares of Celanese during the fourth quarter worth $200,000. Parametrica Management Ltd acquired a new position in shares of Celanese during the first quarter worth $230,000. Jump Trading LLC acquired a new position in shares of Celanese during the first quarter worth $258,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Celanese during the first quarter worth $301,000. 94.14% of the stock is currently owned by hedge funds and other institutional investors.
CE stock opened at $110.27 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.88 and a quick ratio of 1.28. Celanese Co. has a 1-year low of $91.15 and a 1-year high of $118.40. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32.
Celanese (NYSE:CE) last released its earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.46. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. equities research analysts predict that Celanese Co. will post 9.46 earnings per share for the current fiscal year.
In other Celanese news, EVP Peter G. Edwards sold 3,674 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $115.44, for a total transaction of $424,126.56. Following the completion of the sale, the executive vice president now owns 12,160 shares in the company, valued at $1,403,750.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.
CE has been the topic of a number of recent research reports. KeyCorp boosted their target price on shares of Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 21st. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Wednesday, April 11th. Morgan Stanley lifted their price target on shares of Celanese from $88.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 18th. MED restated a “sell” rating and issued a $82.00 price target on shares of Celanese in a research note on Tuesday, April 24th. Finally, Barclays assumed coverage on shares of Celanese in a research note on Friday, April 20th. They issued an “overweight” rating and a $111.19 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $117.25.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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