Celanese Co. (NYSE:CE) Shares Sold by Core Alternative Capital

Core Alternative Capital cut its stake in shares of Celanese Co. (NYSE:CE) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,415 shares of the basic materials company’s stock after selling 159 shares during the period. Core Alternative Capital’s holdings in Celanese were worth $236,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC raised its holdings in shares of Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. UMB Bank n.a. increased its holdings in Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after buying an additional 194 shares during the last quarter. Mather Group LLC. increased its holdings in Celanese by 124.0% in the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after buying an additional 222 shares during the last quarter. CKW Financial Group raised its stake in Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after buying an additional 185 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Celanese by 1,395.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock worth $87,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Stock Performance

NYSE:CE opened at $66.98 on Tuesday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 1.37 and a beta of 1.17. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. Celanese Co. has a 1-year low of $64.05 and a 1-year high of $172.16. The firm’s fifty day moving average price is $69.58 and its 200 day moving average price is $101.27.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley cut their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. UBS Group cut shares of Celanese from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Bank of America upgraded shares of Celanese from an “underperform” rating to a “buy” rating and lowered their target price for the company from $95.00 to $88.00 in a report on Tuesday, January 14th. Jefferies Financial Group decreased their price objective on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Finally, Mizuho reduced their target price on Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Celanese has a consensus rating of “Hold” and an average target price of $102.06.

Celanese Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.