American Century Companies Inc. lessened its stake in shares of Celanese Co. (NYSE:CE) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,736 shares of the basic materials company’s stock after selling 632 shares during the period. American Century Companies Inc.’s holdings in Celanese were worth $575,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in Celanese by 816.3% in the 1st quarter. Meeder Asset Management Inc. now owns 7,908 shares of the basic materials company’s stock valued at $792,000 after buying an additional 7,045 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in Celanese during the first quarter worth about $1,302,000. DekaBank Deutsche Girozentrale increased its stake in Celanese by 99.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 33,722 shares of the basic materials company’s stock worth $3,444,000 after purchasing an additional 16,815 shares during the period. Westpac Banking Corp increased its stake in Celanese by 46.7% during the first quarter. Westpac Banking Corp now owns 73,816 shares of the basic materials company’s stock worth $7,397,000 after purchasing an additional 23,497 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Celanese by 0.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 447,597 shares of the basic materials company’s stock worth $44,854,000 after purchasing an additional 3,398 shares during the period. Institutional investors and hedge funds own 94.11% of the company’s stock.
Celanese traded down $0.57, reaching $115.10, on Thursday, according to Marketbeat.com. The stock had a trading volume of 704,200 shares, compared to its average volume of 830,980. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.91. Celanese Co. has a 12-month low of $89.09 and a 12-month high of $118.40. The stock has a market cap of $15.90 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.41 and a beta of 1.32.
A number of brokerages have issued reports on CE. Zacks Investment Research upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Wednesday, April 11th. Cowen reiterated an “outperform” rating and set a $125.00 price target (up from $120.00) on shares of Celanese in a research note on Friday, May 4th. ValuEngine downgraded Celanese from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. KeyCorp boosted their price objective on Celanese from $128.00 to $131.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 21st. Finally, UBS Group raised Celanese from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $111.10 to $113.00 in a research report on Wednesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $114.96.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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