Pacer Advisors Inc. lessened its holdings in shares of Celanese Co. (NYSE:CE) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,754 shares of the basic materials company’s stock after selling 4,205 shares during the period. Pacer Advisors Inc.’s holdings in Celanese were worth $4,250,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. FIL Ltd lifted its holdings in shares of Celanese by 3.3% during the 1st quarter. FIL Ltd now owns 10,250 shares of the basic materials company’s stock worth $1,010,000 after acquiring an additional 326 shares during the period. Trexquant Investment LP acquired a new position in Celanese in the 1st quarter valued at approximately $1,098,000. Advisory Alpha LLC acquired a new position in Celanese in the 1st quarter valued at approximately $27,000. SRB Corp acquired a new position in Celanese in the 1st quarter valued at approximately $690,000. Finally, Optima Fund Management LLC increased its position in Celanese by 6.3% in the 1st quarter. Optima Fund Management LLC now owns 14,068 shares of the basic materials company’s stock valued at $1,387,000 after acquiring an additional 839 shares during the period. Hedge funds and other institutional investors own 98.15% of the company’s stock.
CE has been the subject of several recent research reports. UBS Group upped their price target on shares of Celanese from $128.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group cut shares of Celanese from a “buy” rating to a “neutral” rating and set a $129.00 price target for the company. in a research report on Tuesday, October 1st. KeyCorp decreased their price target on shares of Celanese from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Bank of America initiated coverage on shares of Celanese in a research report on Thursday, September 26th. They issued an “underperform” rating and a $110.00 price target for the company. They noted that the move was a valuation call. Finally, Deutsche Bank restated a “hold” rating on shares of Celanese in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $119.11.
NYSE:CE opened at $121.87 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.32 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.66 and a beta of 1.36. The firm has a fifty day simple moving average of $118.41 and a two-hundred day simple moving average of $108.30. Celanese Co. has a 12 month low of $82.91 and a 12 month high of $127.15.
Celanese (NYSE:CE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period last year, the firm earned $2.90 earnings per share. Equities analysts predict that Celanese Co. will post 10.1 earnings per share for the current fiscal year.
Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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