Muhlenkamp & Co. Inc. acquired a new position in Celanese Co. (NYSE:CE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,761 shares of the basic materials company’s stock, valued at approximately $9,739,000. Celanese accounts for approximately 4.6% of Muhlenkamp & Co. Inc.’s investment portfolio, making the stock its 9th biggest holding.
A number of other hedge funds also recently bought and sold shares of CE. Advisory Alpha LLC acquired a new stake in Celanese during the 1st quarter worth about $27,000. Acima Private Wealth LLC acquired a new stake in Celanese during the 4th quarter worth about $31,000. Pearl River Capital LLC acquired a new stake in Celanese during the 4th quarter worth about $36,000. Prime Capital Investment Advisors LLC acquired a new stake in Celanese during the 4th quarter worth about $37,000. Finally, Investors Research Corp acquired a new stake in Celanese during the 1st quarter worth about $41,000. 97.19% of the stock is owned by institutional investors and hedge funds.
In other news, Director John K. Wulff sold 9,175 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $108.32, for a total value of $993,836.00. Following the transaction, the director now owns 19,872 shares in the company, valued at approximately $2,152,535.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.
Several analysts have issued reports on the company. BMO Capital Markets boosted their price objective on Celanese from $107.00 to $126.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Zacks Investment Research upgraded Celanese from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Deutsche Bank boosted their price objective on Celanese from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. Alembic Global Advisors set a $95.00 price objective on Celanese and gave the stock a “sell” rating in a report on Monday, April 22nd. Finally, ValuEngine downgraded Celanese from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Celanese presently has a consensus rating of “Hold” and a consensus target price of $119.53.
Shares of CE opened at $104.19 on Monday. The stock has a market capitalization of $13.19 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.99 and a beta of 1.38. Celanese Co. has a fifty-two week low of $82.91 and a fifty-two week high of $119.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58.
Celanese (NYSE:CE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.13. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.76 billion. Celanese had a return on equity of 39.76% and a net margin of 16.89%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. On average, sell-side analysts expect that Celanese Co. will post 10.51 EPS for the current fiscal year.
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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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