Livforsakringsbolaget Skandia Omsesidigt Has $87,000 Stake in Celanese Co. (NYSE:CE)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Celanese Co. (NYSE:CE) by 1,395.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 643 shares of the basic materials company’s stock after purchasing an additional 600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Celanese were worth $87,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CE. Virtu Financial LLC acquired a new position in shares of Celanese during the fourth quarter worth approximately $376,000. American International Group Inc. raised its position in Celanese by 3.7% in the 4th quarter. American International Group Inc. now owns 27,449 shares of the basic materials company’s stock valued at $4,265,000 after buying an additional 977 shares during the last quarter. Vanguard Group Inc. raised its position in Celanese by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 13,077,014 shares of the basic materials company’s stock valued at $2,031,776,000 after buying an additional 354,367 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in Celanese in the 4th quarter valued at $272,000. Finally, Nomura Holdings Inc. purchased a new stake in Celanese in the 4th quarter valued at $312,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. raised Celanese from an “underweight” rating to a “neutral” rating and lowered their price target for the company from $156.00 to $130.00 in a research report on Monday, August 5th. Royal Bank of Canada lowered their price target on Celanese from $167.00 to $163.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Wells Fargo & Company reduced their price objective on Celanese from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Citigroup reduced their price objective on Celanese from $167.00 to $148.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, BMO Capital Markets reduced their price objective on Celanese from $142.00 to $138.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Celanese presently has a consensus rating of “Hold” and a consensus price target of $152.87.

Celanese Stock Down 1.4 %

Shares of NYSE CE opened at $133.77 on Wednesday. Celanese Co. has a 52 week low of $110.76 and a 52 week high of $172.16. The business has a 50-day simple moving average of $129.04 and a two-hundred day simple moving average of $141.68. The company has a quick ratio of 0.74, a current ratio of 1.28 and a debt-to-equity ratio of 1.45. The company has a market cap of $14.61 billion, a P/E ratio of 7.36, a P/E/G ratio of 0.70 and a beta of 1.30.

Celanese (NYSE:CE) last issued its earnings results on Thursday, August 1st. The basic materials company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.33). Celanese had a return on equity of 13.60% and a net margin of 18.24%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the business earned $2.17 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts anticipate that Celanese Co. will post 10.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Celanese

In other Celanese news, COO Scott A. Richardson sold 4,675 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $129.51, for a total value of $605,459.25. Following the sale, the chief operating officer now owns 69,754 shares of the company’s stock, valued at $9,033,840.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.

Celanese Company 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.