BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,039 Shares of Celanese Co. (NYSE:CE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in Celanese Co. (NYSE:CE) by 4.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,468 shares of the basic materials company’s stock after selling 5,039 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of Celanese worth $12,072,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Muhlenkamp & Co. Inc. lifted its position in Celanese by 0.5% during the fourth quarter. Muhlenkamp & Co. Inc. now owns 109,880 shares of the basic materials company’s stock valued at $11,766,000 after buying an additional 545 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Celanese by 2.4% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 25,700 shares of the basic materials company’s stock valued at $2,575,000 after buying an additional 600 shares in the last quarter. Penserra Capital Management LLC lifted its position in Celanese by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 3,990 shares of the basic materials company’s stock valued at $427,000 after buying an additional 627 shares in the last quarter. Cetera Investment Advisers lifted its position in Celanese by 13.3% during the first quarter. Cetera Investment Advisers now owns 5,421 shares of the basic materials company’s stock valued at $544,000 after buying an additional 635 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Celanese by 1.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,784 shares of the basic materials company’s stock valued at $5,089,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.

CE opened at $111.92 on Thursday. The firm has a market capitalization of $15.23 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.28 and a current ratio of 1.88. Celanese Co. has a 12-month low of $91.15 and a 12-month high of $118.40.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.46. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Celanese had a net margin of 15.69% and a return on equity of 35.22%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. equities research analysts anticipate that Celanese Co. will post 9.46 EPS 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. Corporate insiders own 0.41% of the company’s stock.

A number of research firms have recently commented on CE. Jefferies Financial Group boosted their target price on shares of Celanese to $138.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets boosted their target price on shares of Celanese from $137.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, June 15th. MED reissued a “sell” rating and set a $82.00 target price on shares of Celanese in a research report on Tuesday, April 24th. Barclays began coverage on shares of Celanese in a research report on Friday, April 20th. They set an “overweight” rating and a $111.19 target price on the stock. Finally, UBS Group raised shares of Celanese from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $111.10 to $113.00 in a research report on Wednesday, May 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Celanese presently has an average rating of “Buy” and a consensus target price of $117.25.

Celanese 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.

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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