Royal Bank of Canada lessened its stake in shares of Celanese Co. (NYSE:CE) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,517 shares of the basic materials company’s stock after selling 17,905 shares during the quarter. Royal Bank of Canada owned about 0.08% of Celanese worth $11,376,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Celanese by 4.8% during the first quarter. BlackRock Inc. now owns 7,450,478 shares of the basic materials company’s stock valued at $746,612,000 after acquiring an additional 341,770 shares during the period. LSV Asset Management boosted its holdings in Celanese by 1.1% during the first quarter. LSV Asset Management now owns 2,523,692 shares of the basic materials company’s stock worth $252,899,000 after buying an additional 28,100 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Celanese by 2.5% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,257,233 shares of the basic materials company’s stock worth $226,197,000 after buying an additional 54,237 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Celanese by 13.9% during the first quarter. JPMorgan Chase & Co. now owns 1,475,181 shares of the basic materials company’s stock worth $147,828,000 after buying an additional 179,505 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Celanese by 4.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,255,537 shares of the basic materials company’s stock worth $134,443,000 after buying an additional 49,552 shares in the last quarter. Institutional investors and hedge funds own 94.14% of the company’s stock.
A number of analysts recently weighed in on CE shares. BMO Capital Markets raised their target price on shares of Celanese from $137.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, June 15th. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Wednesday, April 11th. ValuEngine cut shares of Celanese from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. UBS Group upgraded shares of Celanese from a “neutral” rating to a “buy” rating and raised their target price for the stock from $111.10 to $113.00 in a report on Wednesday, May 16th. Finally, MED restated a “sell” rating and set a $82.00 target price on shares of Celanese in a report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $117.25.
In other Celanese news, EVP Peter G. Edwards sold 3,674 shares of Celanese 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 of the company’s stock, valued at approximately $1,403,750.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.
Celanese stock opened at $112.43 on Friday. Celanese Co. has a 52 week low of $91.15 and a 52 week high of $118.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.88 and a quick ratio of 1.28. The company has a market capitalization of $15.27 billion, a P/E ratio of 13.24, a PEG ratio of 1.32 and a beta of 1.28.
Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $1.81 EPS. The company’s revenue was up 25.8% on a year-over-year basis. equities analysts forecast that Celanese Co. will post 9.51 EPS for the current year.
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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