Janus Henderson Group PLC decreased its position in Celanese Co. (NYSE:CE) by 31.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 445,341 shares of the basic materials company’s stock after selling 202,431 shares during the period. Janus Henderson Group PLC owned approximately 0.33% of Celanese worth $49,460,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Redwood Investments LLC acquired a new position in Celanese in the 2nd quarter worth $2,393,000. Standard Life Aberdeen plc boosted its stake in Celanese by 52.6% in the 2nd quarter. Standard Life Aberdeen plc now owns 2,815,551 shares of the basic materials company’s stock worth $312,695,000 after purchasing an additional 969,914 shares during the period. Private Advisor Group LLC acquired a new position in Celanese in the 2nd quarter worth $496,000. Banque Pictet & Cie SA acquired a new position in Celanese in the 2nd quarter worth $343,000. Finally, Stanley Laman Group Ltd. boosted its stake in Celanese by 8.2% in the 2nd quarter. Stanley Laman Group Ltd. now owns 8,783 shares of the basic materials company’s stock worth $975,000 after purchasing an additional 669 shares during the period. 94.88% of the stock is owned by institutional investors.

Shares of CE stock opened at $115.02 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $15.57 billion, a PE ratio of 12.01, a PEG ratio of 1.09 and a beta of 1.31. Celanese Co. has a 52-week low of $95.45 and a 52-week high of $119.29.

Celanese (NYSE:CE) last issued its earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating 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%. Celanese’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 EPS. equities analysts forecast that Celanese Co. will post 10.57 earnings per share for the current year.

A number of equities analysts recently weighed in on CE shares. Citigroup upped their target price on shares of Celanese from $131.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Celanese from $110.00 to $114.00 and gave the stock a “$113.06” rating in a research note on Monday, July 23rd. BMO Capital Markets increased their price objective on shares of Celanese from $137.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, June 15th. KeyCorp increased their price objective on shares of Celanese from $141.00 to $145.00 and gave the stock a “$113.06” rating in a research note on Monday, July 23rd. Finally, UBS Group upgraded shares of Celanese from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $111.10 to $113.00 in a research note on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Celanese has an average rating of “Buy” and a consensus price target of $123.82.

In other news, EVP Peter G. Edwards sold 3,674 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $115.44, for a total value of $424,126.56. Following the sale, the executive vice president now directly owns 12,160 shares of the company’s stock, valued at approximately $1,403,750.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

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: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Celanese (NYSE:CE)

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