Cambridge Investment Research Advisors Inc. increased its position in shares of Celanese Co. (NYSE:CE) by 142.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,814 shares of the basic materials company’s stock after acquiring an additional 4,007 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Celanese were worth $757,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Standard Life Aberdeen plc grew 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 acquiring an additional 969,914 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Celanese by 7.5% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 24,185 shares of the basic materials company’s stock worth $2,686,000 after buying an additional 1,679 shares during the period. Trexquant Investment LP lifted its holdings in Celanese by 291.2% during the 2nd quarter. Trexquant Investment LP now owns 40,855 shares of the basic materials company’s stock worth $4,537,000 after buying an additional 30,412 shares during the period. Redwood Investments LLC acquired a new position in Celanese during the 2nd quarter worth about $2,393,000. Finally, Atria Investments LLC lifted its holdings in Celanese by 55.2% during the 2nd quarter. Atria Investments LLC now owns 3,809 shares of the basic materials company’s stock worth $423,000 after buying an additional 1,354 shares during the period. Institutional investors and hedge funds own 94.81% of the company’s stock.

Several research analysts have commented on CE shares. Jefferies Financial Group lifted their target price on Celanese to $138.00 and gave the stock a “buy” rating in a report on Monday, June 18th. Royal Bank of Canada reaffirmed a “buy” rating and set a $134.00 target price on shares of Celanese in a report on Friday, July 13th. BMO Capital Markets lifted their target price on Celanese from $137.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, June 15th. Nomura lifted their target price on Celanese from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 11th. Finally, Morgan Stanley lifted their target price on Celanese from $112.00 to $120.00 and gave the stock a “$113.06” rating in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $123.82.

Shares of NYSE:CE opened at $113.17 on Monday. The stock has a market capitalization of $15.19 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.39 and a current ratio of 1.96. Celanese Co. has a 1 year low of $95.45 and a 1 year high of $119.29.

Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.50. The company had revenue of $1.84 billion for 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 firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 EPS. equities research analysts forecast that Celanese Co. will post 10.57 EPS for the current fiscal year.

About Celanese

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: Trading Strategy Methods for Individual Investors

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.