Celanese Co. (NYSE:CE) Position Lowered by Procyon Advisors LLC

Procyon Advisors LLC lowered its position in shares of Celanese Co. (NYSE:CE) by 10.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,647 shares of the basic materials company’s stock after selling 405 shares during the quarter. Procyon Advisors LLC’s holdings in Celanese were worth $496,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CE. Exchange Traded Concepts LLC bought a new stake in Celanese during the third quarter valued at $89,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Celanese by 1,395.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 600 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in Celanese by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 115,503 shares of the basic materials company’s stock valued at $15,704,000 after purchasing an additional 2,696 shares during the last quarter. Greenfield Savings Bank increased its stake in Celanese by 10.5% during the third quarter. Greenfield Savings Bank now owns 2,829 shares of the basic materials company’s stock valued at $385,000 after purchasing an additional 268 shares during the last quarter. Finally, Mather Group LLC. increased its stake in Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $129.51, for a total value of $605,459.25. Following the completion of the transaction, the chief operating officer now directly owns 69,754 shares in the company, valued at $9,033,840.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Celanese Trading Down 1.4 %

Shares of NYSE:CE opened at $133.77 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.74 and a current ratio of 1.28. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.70 and a beta of 1.30. Celanese Co. has a 1-year low of $110.76 and a 1-year high of $172.16. The company has a 50 day moving average price of $129.04 and a 200 day moving average price of $141.68.

Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 earnings per share 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 for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business earned $2.17 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. On average, research analysts anticipate that Celanese Co. will post 10.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on CE shares. JPMorgan Chase & Co. upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $156.00 to $130.00 in a research note on Monday, August 5th. UBS Group reduced their price target on shares of Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada reduced their price target on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Barclays lowered their target price on Celanese from $170.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Celanese presently has an average rating of “Hold” and an average price target of $152.87.

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.