Wedmont Private Capital Buys Shares of 4,395 Celanese Co. (NYSE:CE)

Wedmont Private Capital acquired a new position in Celanese Co. (NYSE:CEFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,395 shares of the basic materials company’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DT Investment Partners LLC boosted its holdings in Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Celanese by 5.2% in the third quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock valued at $308,000 after purchasing an additional 111 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Celanese by 7.0% in the second quarter. Benjamin Edwards Inc. now owns 2,064 shares of the basic materials company’s stock valued at $278,000 after purchasing an additional 135 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in Celanese by 0.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock worth $2,954,000 after buying an additional 145 shares during the period. Finally, Neumann Capital Management LLC increased its position in shares of Celanese by 5.3% during the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock worth $408,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

NYSE CE opened at $71.94 on Friday. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.62 and a beta of 1.18. The business’s 50 day moving average is $70.71 and its two-hundred day moving average is $109.60. Celanese Co. has a 12-month low of $64.05 and a 12-month high of $172.16. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CEGet Free Report) last released its quarterly earnings data 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). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. Research analysts expect that Celanese Co. will post 8.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CE shares. Wells Fargo & Company lowered shares of Celanese from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $165.00 to $115.00 in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and lowered their target price for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Barclays decreased their price target on Celanese from $101.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, November 19th. Finally, Bank of America upgraded Celanese from an “underperform” rating to a “buy” rating and dropped their price objective for the company from $95.00 to $88.00 in a report on Tuesday. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.00.

Check Out Our Latest Report on Celanese

About Celanese

(Free Report)

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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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