Deutsche Bank AG Has $43.48 Million Stake in Celanese Co. (CE)

Deutsche Bank AG lowered its holdings in shares of Celanese Co. (NYSE:CE) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 406,114 shares of the basic materials company’s stock after selling 48,365 shares during the quarter. Deutsche Bank AG owned 0.30% of Celanese worth $43,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its position in Celanese by 6.4% during the third quarter. GSA Capital Partners LLP now owns 8,449 shares of the basic materials company’s stock valued at $881,000 after purchasing an additional 505 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Celanese by 20.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,014 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 506 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Celanese by 1.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,829 shares of the basic materials company’s stock valued at $4,466,000 after purchasing an additional 573 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Celanese by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,531 shares of the basic materials company’s stock valued at $525,000 after purchasing an additional 582 shares during the last quarter. Finally, Barrett Asset Management LLC lifted its position in Celanese by 40.0% during the third quarter. Barrett Asset Management LLC now owns 2,100 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 95.83% of the company’s stock.

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CE stock traded down $2.39 during trading on Friday, hitting $99.92. The company had a trading volume of 1,511,905 shares, compared to its average volume of 894,293. The company has a market capitalization of $13,895.44, a PE ratio of 13.30, a P/E/G ratio of 1.33 and a beta of 1.33. Celanese Co. has a 52-week low of $83.34 and a 52-week high of $114.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.79 and a quick ratio of 1.21.

Celanese (NYSE:CE) last posted its earnings results on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.12. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.49 billion. Celanese had a net margin of 13.73% and a return on equity of 32.96%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 EPS. sell-side analysts forecast that Celanese Co. will post 8.59 EPS for the current fiscal year.

Several research firms have recently issued reports on CE. Deutsche Bank restated a “buy” rating and issued a $128.00 target price on shares of Celanese in a report on Monday, January 29th. Jefferies Group restated a “buy” rating and issued a $130.00 target price on shares of Celanese in a report on Monday, January 29th. KeyCorp raised their target price on shares of Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Wednesday, March 21st. Robert W. Baird restated a “buy” rating and issued a $130.00 target price on shares of Celanese in a report on Monday, January 29th. Finally, Citigroup raised their target price on shares of Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Celanese has an average rating of “Buy” and an average target price of $116.13.

In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the chief financial officer now owns 52,924 shares of the company’s stock, valued at approximately $5,821,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.

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About Celanese

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.

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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