American International Group Inc. cut its holdings in shares of Celanese Co. (NYSE:CE) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,009 shares of the basic materials company’s stock after selling 3,583 shares during the period. American International Group Inc.’s holdings in Celanese were worth $1,982,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Uniplan Investment Counsel Inc. bought a new stake in Celanese during the second quarter worth $15,843,000. Koch Industries Inc. acquired a new position in shares of Celanese during the second quarter worth $289,000. Swiss National Bank increased its holdings in shares of Celanese by 1.2% during the second quarter. Swiss National Bank now owns 513,530 shares of the basic materials company’s stock worth $48,755,000 after buying an additional 6,100 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Celanese by 1.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 434,546 shares of the basic materials company’s stock worth $45,310,000 after buying an additional 5,242 shares in the last quarter. Finally, BT Investment Management Ltd acquired a new position in shares of Celanese during the second quarter worth $8,922,000. Hedge funds and other institutional investors own 96.16% of the company’s stock.
Celanese Co. (CE) traded down $0.88 during midday trading on Tuesday, reaching $105.66. The company had a trading volume of 323,300 shares, compared to its average volume of 864,826. The firm has a market capitalization of $14,450.66, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. Celanese Co. has a 1-year low of $78.38 and a 1-year high of $109.11. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.94.
Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.01. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.49 billion. Celanese had a return on equity of 31.98% and a net margin of 13.66%. Celanese’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. sell-side analysts anticipate that Celanese Co. will post 7.37 earnings per share for the current year.
Several brokerages have recently issued reports on CE. ValuEngine downgraded shares of Celanese from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Nomura upped their price target on shares of Celanese from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, October 10th. KeyCorp upped their price target on shares of Celanese from $106.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Instinet reiterated a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Celanese in a report on Friday, October 13th. Finally, UBS upped their price target on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $107.74.
In other Celanese news, Director John K. Wulff sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total transaction of $264,700.00. Following the sale, the director now owns 30,175 shares of the company’s stock, valued at $3,194,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher W. Jensen sold 1,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $104.68, for a total transaction of $104,680.00. Following the sale, the chief financial officer now directly owns 60,086 shares in the company, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
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Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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