Great West Life Assurance Co. Can Decreases Position in Celanese Co. (NYSE:CE)

Great West Life Assurance Co. Can trimmed its position in shares of Celanese Co. (NYSE:CEGet Rating) by 15.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,396 shares of the basic materials company’s stock after selling 9,848 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Celanese were worth $5,000,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Celanese by 51.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,152 shares of the basic materials company’s stock worth $1,451,000 after acquiring an additional 3,431 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of 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 during the last quarter. Yousif Capital Management LLC raised its holdings in shares of 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 during the last quarter. Finally, Aviva PLC raised its holdings in shares of 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 during the last quarter. 92.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Celanese from $133.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, December 19th. Royal Bank of Canada upgraded Celanese from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $125.00 in a research note on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Celanese from $110.00 to $105.00 in a research note on Thursday, November 10th. UBS Group upped their target price on Celanese from $124.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, January 11th. Finally, BMO Capital Markets dropped their price target on Celanese from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $116.00.

Celanese Price Performance

Shares of NYSE CE opened at $121.59 on Friday. Celanese Co. has a 1-year low of $86.71 and a 1-year high of $165.48. The business has a 50-day moving average of $107.14 and a 200-day moving average of $105.59. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.73 and a quick ratio of 4.11. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 8.04 and a beta of 1.26.

Celanese (NYSE:CEGet Rating) last issued its earnings results on Thursday, November 3rd. The basic materials company reported $3.94 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.04). The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Celanese had a return on equity of 42.26% and a net margin of 17.20%. Celanese’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.82 EPS. On average, equities analysts anticipate that Celanese Co. will post 16.08 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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