1,873 Shares in Celanese Co. (CE) Purchased by Quantum Capital Management
Quantum Capital Management bought a new position in shares of Celanese Co. (NYSE:CE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,873 shares of the basic materials company’s stock, valued at approximately $208,000.
Several other institutional investors and hedge funds have also made changes to their positions in CE. Standard Life Aberdeen plc lifted its holdings in shares of Celanese by 52.6% during the second 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. Trexquant Investment LP lifted its holdings in shares of Celanese by 291.2% during the second quarter. Trexquant Investment LP now owns 40,855 shares of the basic materials company’s stock worth $4,537,000 after purchasing an additional 30,412 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Celanese by 7.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 24,185 shares of the basic materials company’s stock worth $2,686,000 after purchasing an additional 1,679 shares during the period. Redwood Investments LLC acquired a new stake in shares of Celanese during the second quarter worth $2,393,000. Finally, Atria Investments LLC lifted its holdings in Celanese by 55.2% in the second quarter. Atria Investments LLC now owns 3,809 shares of the basic materials company’s stock valued at $423,000 after acquiring an additional 1,354 shares during the period. Institutional investors and hedge funds own 94.81% of the company’s stock.
A number of equities research analysts have commented on the company. Citigroup raised their target price on Celanese from $130.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Barclays raised their target price on Celanese from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 30th. KeyCorp raised their target price on Celanese from $141.00 to $145.00 and gave the company a “$113.06” rating in a report on Monday, July 23rd. UBS Group raised Celanese from a “neutral” rating to a “buy” rating and raised their target price for the company from $111.10 to $113.00 in a report on Wednesday, May 16th. Finally, JPMorgan Chase & Co. raised their target price on Celanese from $110.00 to $114.00 and gave the company a “$113.06” rating in a report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. Celanese currently has a consensus rating of “Buy” and an average target price of $123.82.
NYSE:CE opened at $112.49 on Thursday. The firm has a market cap of $15.51 billion, a PE ratio of 14.98, a PEG ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.96 and a quick ratio of 1.39. Celanese Co. has a 52-week low of $95.45 and a 52-week high of $119.29.
Celanese (NYSE:CE) last released its quarterly earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.50. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Celanese had a return on equity of 37.74% and a net margin of 16.57%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 EPS. analysts expect that Celanese Co. will post 10.57 EPS for the current fiscal year.
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.
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