Neuberger Berman Group LLC lessened its holdings in shares of Celanese Co. (NYSE:CE) by 95.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,671 shares of the basic materials company’s stock after selling 53,507 shares during the period. Neuberger Berman Group LLC’s holdings in Celanese were worth $279,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CE. Uniplan Investment Counsel Inc. bought a new position in Celanese in the 2nd quarter worth about $15,843,000. Koch Industries Inc. bought a new position in Celanese in the 2nd quarter worth about $289,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Celanese by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 434,546 shares of the basic materials company’s stock worth $45,310,000 after purchasing an additional 5,242 shares during the last quarter. Macquarie Group Ltd. grew its position in Celanese by 10.2% in the 3rd quarter. Macquarie Group Ltd. now owns 157,840 shares of the basic materials company’s stock worth $16,458,000 after purchasing an additional 14,650 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in Celanese in the 2nd quarter worth about $8,922,000. 96.01% of the stock is owned by institutional investors and hedge funds.
In other Celanese news, Director John K. Wulff sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $105.88, for a total value of $264,700.00. Following the transaction, the director now owns 30,175 shares in the company, valued at approximately $3,194,929. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Christopher W. Jensen sold 1,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $104.68, for a total transaction of $104,680.00. Following the transaction, the chief financial officer now owns 60,086 shares in the company, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
A number of brokerages have recently weighed in on CE. Zacks Investment Research lowered shares of Celanese from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tudor Pickering began coverage on shares of Celanese in a research note on Tuesday, November 14th. They issued a “buy” rating for the company. Cowen upped their price target on shares of Celanese from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 20th. Citigroup reduced their price target on shares of Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Finally, UBS Group upped their price target on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $108.17.
Shares of Celanese Co. (NYSE CE) opened at $111.27 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16. The company has a market cap of $15,090.00, a P/E ratio of 19.12, a P/E/G ratio of 1.46 and a beta of 1.32. Celanese Co. has a 12-month low of $81.01 and a 12-month high of $111.48.
Celanese (NYSE:CE) last released its quarterly earnings data on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese had a net margin of 14.81% and a return on equity of 34.11%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 EPS. research analysts forecast that Celanese Co. will post 7.37 earnings per share for the current year.
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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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