Celanese Co. (CE) Shares Bought by DNB Asset Management AS

DNB Asset Management AS lifted its stake in shares of Celanese Co. (NYSE:CE) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,980 shares of the basic materials company’s stock after buying an additional 2,156 shares during the period. DNB Asset Management AS’s holdings in Celanese were worth $2,278,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Standard Life Aberdeen plc increased its holdings in Celanese by 52.6% in the second quarter. Standard Life Aberdeen plc now owns 2,815,551 shares of the basic materials company’s stock valued at $312,695,000 after purchasing an additional 969,914 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Celanese by 2.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,257,233 shares of the basic materials company’s stock valued at $226,197,000 after purchasing an additional 54,237 shares during the period. Millennium Management LLC increased its holdings in Celanese by 76.2% in the second quarter. Millennium Management LLC now owns 2,005,758 shares of the basic materials company’s stock valued at $222,759,000 after purchasing an additional 867,269 shares during the period. PNC Financial Services Group Inc. boosted its position in Celanese by 353.3% during the second quarter. PNC Financial Services Group Inc. now owns 984,690 shares of the basic materials company’s stock valued at $109,359,000 after acquiring an additional 767,484 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Celanese by 23.5% during the second quarter. Bank of America Corp DE now owns 876,710 shares of the basic materials company’s stock valued at $97,367,000 after acquiring an additional 166,651 shares during the last quarter. Institutional investors own 94.86% of the company’s stock.

A number of analysts have commented on the stock. Zacks Investment Research cut shares of Celanese from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup upped their price target on shares of Celanese from $131.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. KeyCorp upped their price target on shares of Celanese from $141.00 to $145.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. Barclays upped their price target on shares of Celanese from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Celanese from $110.00 to $114.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $124.25.

CE stock opened at $100.03 on Wednesday. The stock has a market cap of $15.39 billion, a PE ratio of 13.32, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.85. Celanese Co. has a 1 year low of $95.45 and a 1 year high of $119.29.

Celanese (NYSE:CE) last released its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.50. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Celanese had a net margin of 16.57% and a return on equity of 37.74%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS. As a group, sell-side analysts expect that Celanese Co. will post 10.57 EPS for the current fiscal year.

Celanese Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

Further Reading: Why is insider trading harmful?

Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Co. (NYSE:CE).

Institutional Ownership by Quarter for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply