Natixis Has $12.08 Million Stock Position in Celanese Co. (NYSE:CE)

Natixis increased its holdings in shares of Celanese Co. (NYSE:CE) by 167.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,057 shares of the basic materials company’s stock after buying an additional 70,181 shares during the quarter. Natixis owned 0.09% of Celanese worth $12,080,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cibc World Markets Corp lifted its stake in shares of Celanese by 283.5% in the 2nd quarter. Cibc World Markets Corp now owns 159,461 shares of the basic materials company’s stock valued at $17,190,000 after acquiring an additional 117,883 shares during the last quarter. Meadow Creek Investment Management LLC increased its holdings in Celanese by 23.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 60,648 shares of the basic materials company’s stock worth $6,538,000 after purchasing an additional 11,340 shares in the last quarter. Glen Harbor Capital Management LLC increased its holdings in Celanese by 23.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 73,644 shares of the basic materials company’s stock worth $7,939,000 after purchasing an additional 13,770 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Celanese in the second quarter valued at about $3,954,000. Finally, Tyers Asset Management LLC raised its position in Celanese by 23.0% in the second quarter. Tyers Asset Management LLC now owns 34,656 shares of the basic materials company’s stock valued at $3,736,000 after purchasing an additional 6,480 shares during the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Celanese from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $102.00 to $120.00 in a report on Wednesday, July 24th. BMO Capital Markets raised their price objective on shares of Celanese from $115.00 to $120.00 and gave the company a “market perform” rating in a report on Wednesday, July 24th. Nomura cut their target price on shares of Celanese from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. KeyCorp reduced their target price on shares of Celanese from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Finally, Vertical Research cut shares of Celanese from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $118.25.

Shares of Celanese stock traded up $0.63 during midday trading on Wednesday, reaching $123.95. The company had a trading volume of 34,877 shares, compared to its average volume of 816,085. The stock has a fifty day moving average price of $111.06 and a 200 day moving average price of $105.28. Celanese Co. has a fifty-two week low of $82.91 and a fifty-two week high of $123.90. The firm has a market cap of $15.26 billion, a PE ratio of 11.27, a P/E/G ratio of 1.19 and a beta of 1.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.04 and a quick ratio of 1.32.

Celanese (NYSE:CE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.02. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm posted $2.90 EPS. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Celanese Co. will post 10.15 EPS for the current year.

Celanese Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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