Parametric Portfolio Associates LLC raised its stake in shares of Celanese Co. (NYSE:CE) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 260,064 shares of the basic materials company’s stock after purchasing an additional 18,313 shares during the period. Parametric Portfolio Associates LLC owned 0.19% of Celanese worth $27,117,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Celanese by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 11,890,128 shares of the basic materials company’s stock worth $1,128,848,000 after acquiring an additional 153,112 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Celanese by 33.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,999,260 shares of the basic materials company’s stock worth $284,749,000 after acquiring an additional 752,057 shares in the last quarter. LSV Asset Management raised its position in shares of Celanese by 15.0% in the 2nd quarter. LSV Asset Management now owns 2,212,008 shares of the basic materials company’s stock worth $210,008,000 after acquiring an additional 288,356 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Celanese by 13.4% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,150,894 shares of the basic materials company’s stock worth $224,274,000 after acquiring an additional 253,809 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Celanese by 5.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,683,032 shares of the basic materials company’s stock worth $175,490,000 after acquiring an additional 88,311 shares in the last quarter. 96.01% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on CE. Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Monday, December 18th. Tudor Pickering began coverage on Celanese in a research report on Tuesday, November 14th. They issued a “buy” rating for the company. Cowen reissued a “buy” rating on shares of Celanese in a research report on Sunday, October 29th. Jefferies Group reissued a “buy” rating and issued a $122.00 price objective on shares of Celanese in a research report on Thursday, October 19th. Finally, Citigroup lowered their price objective on Celanese from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Celanese currently has an average rating of “Buy” and an average target price of $108.17.
Celanese (NYSE:CE) last issued its earnings results on Monday, October 16th. The basic materials company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.01. Celanese had a return on equity of 31.98% and a net margin of 13.66%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm’s revenue was up 18.4% compared to the same quarter last year. equities analysts anticipate that Celanese Co. will post 7.37 earnings per share for the current fiscal year.
In other Celanese news, Director John K. Wulff sold 2,500 shares of Celanese stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total transaction of $264,700.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of Celanese stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the transaction, the chief financial officer now owns 60,086 shares of the company’s stock, 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 insiders.
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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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