Illinois Municipal Retirement Fund Has $493,000 Holdings in Celanese Co. (NYSE:CE)

Illinois Municipal Retirement Fund lowered its position in shares of Celanese Co. (NYSE:CEGet Rating) by 78.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,459 shares of the basic materials company’s stock after selling 19,318 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Celanese were worth $493,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its stake in Celanese by 51.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,152 shares of the basic materials company’s stock valued at $1,451,000 after buying an additional 3,431 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Celanese by 6.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,627 shares of the basic materials company’s stock worth $804,000 after acquiring an additional 360 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Celanese by 5.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,455 shares of the basic materials company’s stock worth $2,065,000 after acquiring an additional 790 shares in the last quarter. Yousif Capital Management LLC grew its position in Celanese by 1.5% in the first quarter. Yousif Capital Management LLC now owns 13,838 shares of the basic materials company’s stock worth $1,977,000 after acquiring an additional 205 shares in the last quarter. Finally, Aviva PLC grew its position in Celanese by 12.8% in the first quarter. Aviva PLC now owns 37,618 shares of the basic materials company’s stock worth $5,374,000 after acquiring an additional 4,265 shares in the last quarter. Institutional investors and hedge funds own 92.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Celanese from $110.00 to $105.00 in a research report on Thursday, November 10th. StockNews.com assumed coverage on shares of Celanese in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler decreased their target price on shares of Celanese from $120.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, October 10th. BMO Capital Markets decreased their price objective on shares of Celanese from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Finally, Credit Suisse Group decreased their price objective on shares of Celanese from $86.00 to $83.00 and set an “underperform” rating for the company in a report on Friday, November 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Celanese has an average rating of “Hold” and an average price target of $116.00.

Celanese Price Performance

Shares of Celanese stock opened at $122.33 on Wednesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.73 and a quick ratio of 4.11. Celanese Co. has a fifty-two week low of $86.71 and a fifty-two week high of $165.48. The firm has a fifty day moving average price of $107.89 and a two-hundred day moving average price of $105.66. The company has a market cap of $13.26 billion, a PE ratio of 8.09 and a beta of 1.26.

Celanese (NYSE:CEGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.04). Celanese had a net margin of 17.20% and a return on equity of 42.26%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $4.82 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts expect that Celanese Co. will post 16.08 EPS for the current year.

Celanese Profile

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Celanese Corp. engages in the provision of technology and specialty materials businesses. It operates through the following segments: Engineered Materials, Acetate Tow, Acetyl Chain and Other Activities. The Engineered Materials segment includes the engineered materials business, food ingredients business and certain strategic affiliates.

See Also

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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