LPL Financial LLC raised its holdings in shares of Celanese Co. (NYSE:CE) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,331 shares of the basic materials company’s stock after acquiring an additional 2,282 shares during the period. LPL Financial LLC’s holdings in Celanese were worth $2,070,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CE. First PREMIER Bank raised its stake in Celanese by 900.0% during the 4th quarter. First PREMIER Bank now owns 1,000 shares of the basic materials company’s stock valued at $107,000 after acquiring an additional 900 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Celanese in the 4th quarter worth $129,000. Wellington Shields & Co. LLC bought a new stake in shares of Celanese in the 4th quarter worth $203,000. Lourd Capital LLC bought a new stake in shares of Celanese in the 4th quarter worth $221,000. Finally, Fiduciary Trust Co. bought a new stake in shares of Celanese in the 4th quarter worth $241,000. 95.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on CE. Robert W. Baird reissued a “buy” rating and issued a $130.00 price objective on shares of Celanese in a research note on Monday, January 29th. Deutsche Bank reissued a “buy” rating and issued a $128.00 price objective on shares of Celanese in a research note on Monday, January 29th. UBS boosted their price objective on Celanese from $107.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Citigroup boosted their price objective on Celanese from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Celanese presently has an average rating of “Buy” and an average target price of $115.10.
Celanese (NYSE:CE) last announced its earnings results on Thursday, January 25th. The basic materials company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese had a return on equity of 32.96% and a net margin of 13.73%. Celanese’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 earnings per share. equities research analysts predict that Celanese Co. will post 8.59 EPS for the current fiscal year.
In other news, CFO Christopher W. Jensen sold 3,000 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the chief financial officer now directly owns 52,924 shares of the company’s stock, valued at $5,821,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.
Celanese Company Profile
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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