Oppenheimer Asset Management Inc. Buys 631 Shares of Celanese Co. (NYSE:CE)

Oppenheimer Asset Management Inc. raised its stake in Celanese Co. (NYSE:CE) by 13.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,413 shares of the basic materials company’s stock after acquiring an additional 631 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Celanese were worth $584,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Celanese by 61.5% during the 4th quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock valued at $163,756,000 after purchasing an additional 694,491 shares during the period. JPMorgan Chase & Co. boosted its holdings in Celanese by 20.6% in the first quarter. JPMorgan Chase & Co. now owns 1,892,634 shares of the basic materials company’s stock valued at $186,634,000 after acquiring an additional 323,714 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Celanese by 578.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 232,892 shares of the basic materials company’s stock valued at $24,776,000 after purchasing an additional 198,562 shares during the period. Artemis Investment Management LLP purchased a new position in Celanese during the 2nd quarter valued at $21,138,000. Finally, Dimensional Fund Advisors LP raised its holdings in Celanese by 22.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 937,919 shares of the basic materials company’s stock worth $84,386,000 after purchasing an additional 171,049 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

NYSE CE traded up $0.25 during trading hours on Wednesday, reaching $123.57. 19,856 shares of the company’s stock traded hands, compared to its average volume of 816,085. Celanese Co. has a 52-week low of $82.91 and a 52-week high of $123.90. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.04 and a quick ratio of 1.32. The firm has a 50-day simple moving average of $111.06 and a 200 day simple moving average of $105.28. The firm has a market cap of $15.26 billion, a PE ratio of 11.24, a PEG ratio of 1.19 and a beta of 1.37.

Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned $2.90 earnings per share. The business’s revenue was down 13.7% compared to the same quarter last year. Sell-side analysts forecast that Celanese Co. will post 10.15 EPS for the current fiscal year.

CE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of Celanese from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $102.00 to $120.00 in a research report on Wednesday, July 24th. Vertical Research downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. BMO Capital Markets raised their price objective on shares of Celanese from $115.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price objective on Celanese from $102.00 to $124.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, KeyCorp reduced their target price on Celanese from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $118.25.

Celanese Company 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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