Millennium Management LLC increased its stake in Celanese Co. (NYSE:CE) by 76.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,005,758 shares of the basic materials company’s stock after purchasing an additional 867,269 shares during the period. Millennium Management LLC owned 1.49% of Celanese worth $222,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Standard Life Aberdeen plc raised its position in Celanese by 52.6% during 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 buying an additional 969,914 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Celanese by 353.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 984,690 shares of the basic materials company’s stock worth $109,359,000 after buying an additional 767,484 shares during the last quarter. Columbus Circle Investors purchased a new position in Celanese during the 2nd quarter worth approximately $41,462,000. BlackRock Inc. raised its position in Celanese by 4.8% during the 1st quarter. BlackRock Inc. now owns 7,450,478 shares of the basic materials company’s stock worth $746,612,000 after buying an additional 341,770 shares during the last quarter. Finally, Scopus Asset Management L.P. purchased a new position in Celanese during the 2nd quarter worth approximately $31,010,000. Institutional investors own 94.81% of the company’s stock.

NYSE:CE opened at $113.18 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.85. The company has a market cap of $15.19 billion, a PE ratio of 15.07, a PEG ratio of 1.06 and a beta of 1.31. Celanese Co. has a 1-year low of $95.45 and a 1-year high of $119.29.

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

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Celanese from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. Citigroup raised their price target on shares of Celanese from $131.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Morgan Stanley raised their price target on shares of Celanese from $112.00 to $120.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Celanese from $110.00 to $114.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Finally, KeyCorp raised their price target on shares of Celanese from $141.00 to $145.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. Celanese has a consensus rating of “Buy” and an average target price of $123.82.

Celanese Company 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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