DNB Asset Management AS reduced its position in shares of Celanese Co. (NYSE:CE) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,049 shares of the basic materials company’s stock after selling 1,942 shares during the period. DNB Asset Management AS’s holdings in Celanese were worth $2,174,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Acima Private Wealth LLC purchased a new stake in shares of Celanese during the 4th quarter worth $31,000. Baystate Wealth Management LLC lifted its position in Celanese by 200.9% in the fourth quarter. Baystate Wealth Management LLC now owns 331 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 221 shares during the last quarter. Pearl River Capital LLC purchased a new stake in Celanese in the fourth quarter valued at $36,000. Prime Capital Investment Advisors LLC purchased a new stake in Celanese in the fourth quarter valued at $37,000. Finally, Doyle Wealth Management purchased a new stake in Celanese in the fourth quarter valued at $62,000. 96.45% of the stock is owned by institutional investors and hedge funds.
NYSE CE opened at $105.37 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.03 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 1.00 and a beta of 1.32. Celanese Co. has a one year low of $82.91 and a one year high of $119.29.
A number of brokerages recently weighed in on CE. Deutsche Bank cut shares of Celanese from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research report on Sunday. Zacks Investment Research raised shares of Celanese from a “sell” rating to a “hold” rating and set a $114.00 price target for the company in a research report on Monday, April 8th. ValuEngine raised shares of Celanese from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Barclays reduced their price target on shares of Celanese from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, Cowen cut shares of Celanese from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $122.00 to $108.00 in a research report on Wednesday, February 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Celanese has a consensus rating of “Hold” and an average price target of $114.22.
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Celanese Company Profile
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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