Envestnet Asset Management Inc. reduced its stake in shares of Celanese Co. (NYSE:CE) by 19.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,579 shares of the basic materials company’s stock after selling 5,451 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Celanese were worth $2,418,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First PREMIER Bank raised its position in Celanese by 900.0% in the fourth quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 900 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Celanese in the fourth quarter valued at about $129,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Celanese in the fourth quarter valued at about $160,000. Lido Advisors LLC acquired a new stake in shares of Celanese in the fourth quarter valued at about $200,000. Finally, Wellington Shields & Co. LLC acquired a new stake in shares of Celanese in the fourth quarter valued at about $203,000. 95.83% of the stock is currently owned by institutional investors.
Shares of Celanese stock opened at $99.92 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.79 and a debt-to-equity ratio of 1.00. Celanese Co. has a 52 week low of $83.34 and a 52 week high of $114.00. The company has a market capitalization of $13,895.44, a price-to-earnings ratio of 13.30, a PEG ratio of 1.33 and a beta of 1.33.
Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a return on equity of 32.96% and a net margin of 13.73%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. research analysts predict that Celanese Co. will post 8.59 EPS for the current year.
In other Celanese news, CFO Christopher W. Jensen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the chief financial officer now owns 52,924 shares of the company’s stock, valued at $5,821,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.
Several equities research analysts recently commented on the company. BMO Capital Markets assumed coverage on Celanese in a research note on Tuesday, March 27th. They set an “outperform” rating and a $131.00 target price for the company. Jefferies Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Celanese in a research note on Monday, January 29th. UBS raised their target price on Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. KeyCorp raised their target price on Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 21st. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of Celanese in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Celanese has an average rating of “Buy” and an average price target of $116.13.
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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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