Parametric Portfolio Associates LLC boosted its holdings in shares of Celanese Co. (NYSE:CE) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,216 shares of the basic materials company’s stock after acquiring an additional 29,711 shares during the period. Parametric Portfolio Associates LLC owned about 0.29% of Celanese worth $38,292,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in CE. Dimensional Fund Advisors LP raised its position in Celanese by 22.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 937,919 shares of the basic materials company’s stock worth $84,386,000 after acquiring an additional 171,049 shares during the last quarter. Geode Capital Management LLC grew its holdings in Celanese by 61.5% in the fourth 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. Stephens Inc. AR grew its holdings in Celanese by 5.4% in the first quarter. Stephens Inc. AR now owns 5,311 shares of the basic materials company’s stock valued at $524,000 after purchasing an additional 270 shares during the period. Cetera Advisor Networks LLC purchased a new stake in Celanese in the first quarter valued at approximately $302,000. Finally, Toronto Dominion Bank grew its holdings in Celanese by 13.8% in the first quarter. Toronto Dominion Bank now owns 84,274 shares of the basic materials company’s stock valued at $8,308,000 after purchasing an additional 10,191 shares during the period. Institutional investors own 98.15% of the company’s stock.
CE has been the subject of a number of recent analyst reports. Vertical Research downgraded shares of Celanese from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $102.00 to $120.00 in a research note on Wednesday, July 24th. BMO Capital Markets boosted their price objective on shares of Celanese from $115.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. ValuEngine upgraded shares of Celanese from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th. Finally, KeyCorp decreased their price objective on shares of Celanese from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Celanese currently has a consensus rating of “Hold” and an average price target of $118.25.
Celanese (NYSE:CE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 earnings per share. Equities analysts expect that Celanese Co. will post 10.15 earnings per share for the current year.
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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