Man Group plc Acquires 199,018 Shares of Celanese Co. (CE)

Man Group plc boosted its holdings in shares of Celanese Co. (NYSE:CE) by 415.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 246,923 shares of the basic materials company’s stock after acquiring an additional 199,018 shares during the quarter. Man Group plc owned approximately 0.18% of Celanese worth $28,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System bought a new position in shares of Celanese in the second quarter valued at approximately $100,000. First Bank & Trust raised its position in shares of Celanese by 106.4% in the third quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 563 shares during the period. Parallel Advisors LLC raised its position in shares of Celanese by 875.0% in the third quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 1,050 shares during the period. Capital Guardian Trust Co. bought a new position in shares of Celanese in the third quarter valued at approximately $189,000. Finally, Quantum Capital Management bought a new position in shares of Celanese in the second quarter valued at approximately $208,000. 96.46% of the stock is currently owned by hedge funds and other institutional investors.

CE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Celanese from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 24th. Nomura dropped their price target on shares of Celanese from $120.00 to $108.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Vertical Research raised shares of Celanese from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, October 17th. Stifel Nicolaus initiated coverage on shares of Celanese in a research report on Monday, December 10th. They issued a “hold” rating and a $100.00 price target on the stock. Finally, Cowen lifted their price target on shares of Celanese from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, October 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $120.53.

Shares of CE stock opened at $86.69 on Friday. Celanese Co. has a 1 year low of $85.81 and a 1 year high of $119.29. The firm has a market cap of $11.59 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.78 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08.

Celanese (NYSE:CE) last announced its earnings results on Thursday, October 18th. The basic materials company reported $2.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.22. Celanese had a net margin of 18.57% and a return on equity of 39.39%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. Celanese’s revenue was up 13.1% compared to the same quarter last year. Analysts predict that Celanese Co. will post 11.11 EPS for the current year.

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About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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