11,090 Shares in Celanese Co. (NYSE:CE) Purchased by New England Research & Management Inc.

New England Research & Management Inc. acquired a new stake in shares of Celanese Co. (NYSE:CE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 11,090 shares of the basic materials company’s stock, valued at approximately $768,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Celanese by 3.1% during the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock valued at $611,931,000 after purchasing an additional 136,994 shares during the last quarter. KBC Group NV grew its position in Celanese by 155.5% during the 3rd quarter. KBC Group NV now owns 213,657 shares of the basic materials company’s stock valued at $29,049,000 after purchasing an additional 130,037 shares during the last quarter. Zacks Investment Management increased its stake in Celanese by 6.5% during the 3rd quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company’s stock valued at $21,814,000 after purchasing an additional 9,782 shares in the last quarter. National Pension Service raised its holdings in Celanese by 21.7% in the third quarter. National Pension Service now owns 233,480 shares of the basic materials company’s stock worth $31,744,000 after buying an additional 41,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Celanese by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock valued at $134,723,000 after buying an additional 69,606 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Celanese from $101.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, November 19th. Morgan Stanley dropped their price objective 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. Robert W. Baird decreased their target price on Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Bank of America raised shares of Celanese from an “underperform” rating to a “buy” rating and dropped their price target for the company from $95.00 to $88.00 in a report on Tuesday, January 14th. Finally, Piper Sandler lowered their price objective on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.82.

Celanese Stock Down 1.1 %

NYSE CE opened at $71.07 on Thursday. Celanese Co. has a 52 week low of $64.05 and a 52 week high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $7.77 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The stock’s 50-day moving average price is $70.28 and its 200-day moving average price is $105.54.

Celanese (NYSE:CE) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. Celanese’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 EPS. On average, equities research analysts predict that Celanese Co. will post 8.11 earnings per share for the current year.

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.