Raymond James & Associates Acquires 5,747 Shares of Celanese Co. (NYSE:CE)

Raymond James & Associates lifted its position in Celanese Co. (NYSE:CEGet Rating) by 25.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,738 shares of the basic materials company’s stock after acquiring an additional 5,747 shares during the quarter. Raymond James & Associates’ holdings in Celanese were worth $2,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake in Celanese by 92.6% in the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Clear Street Markets LLC grew its stake in Celanese by 415.9% in the second quarter. Clear Street Markets LLC now owns 227 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in Celanese in the second quarter valued at about $27,000. SeaCrest Wealth Management LLC purchased a new position in Celanese in the second quarter valued at about $33,000. Finally, Aurora Private Wealth Inc. purchased a new position in Celanese in the second quarter valued at about $36,000. 92.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on CE shares. Mizuho cut their target price on Celanese from $108.00 to $107.00 and set a “neutral” rating on the stock in a research note on Thursday, January 12th. Barclays boosted their price target on Celanese from $133.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, December 19th. Bank of America dropped their price target on Celanese from $145.00 to $117.00 in a research note on Tuesday, October 11th. Credit Suisse Group dropped their price target on Celanese from $86.00 to $83.00 and set an “underperform” rating on the stock in a research note on Friday, November 4th. Finally, UBS Group boosted their price target on Celanese from $124.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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 52 week low of $86.71 and a 52 week high of $165.48. The firm has a market cap of $13.18 billion, a P/E ratio of 8.04 and a beta of 1.26. The business’s 50 day moving average price is $107.14 and its 200 day moving average price is $105.59. The company has a quick ratio of 4.11, a current ratio of 4.73 and a debt-to-equity ratio of 2.15.

Celanese (NYSE:CEGet Rating) last announced its quarterly earnings results 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 company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $4.82 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts expect that Celanese Co. will post 16.08 earnings per share for the current year.

About Celanese

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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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