OLD National Bancorp IN Has $235,000 Holdings in Celanese Co. (NYSE:CE)

OLD National Bancorp IN raised its position in Celanese Co. (NYSE:CE) by 112.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,390 shares of the basic materials company’s stock after purchasing an additional 1,793 shares during the quarter. OLD National Bancorp IN’s holdings in Celanese were worth $235,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Celanese by 27.4% in the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock valued at $1,286,230,000 after purchasing an additional 2,036,362 shares in the last quarter. State Street Corp increased its position in shares of Celanese by 3.1% in the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock valued at $611,931,000 after acquiring an additional 136,994 shares during the last quarter. Geode Capital Management LLC raised its holdings in Celanese by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock worth $353,145,000 after acquiring an additional 177,552 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Celanese by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock valued at $134,723,000 after purchasing an additional 69,606 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Celanese by 608.2% in the third quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after purchasing an additional 592,196 shares in the last quarter. 98.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup cut their price objective on Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Vertical Research downgraded shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, October 29th. BMO Capital Markets downgraded shares of Celanese from a “market perform” rating to an “underperform” rating and cut their target price for the company from $138.00 to $76.00 in a research note on Monday, November 11th. Royal Bank of Canada lowered their price target on Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group cut Celanese from a “buy” rating to a “neutral” rating and cut their price objective for the company from $161.00 to $97.00 in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $102.82.

Celanese Trading Down 1.6 %

Shares of NYSE:CE opened at $70.99 on Monday. The business’s 50 day simple moving average is $70.15 and its 200 day simple moving average is $104.22. Celanese Co. has a 1 year low of $64.05 and a 1 year high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market capitalization of $7.76 billion, a P/E ratio of 7.14, a P/E/G ratio of 1.42 and a beta of 1.18.

Celanese (NYSE:CE) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the company posted $2.50 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Celanese Co. will post 8.11 EPS for the current fiscal year.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.