Putnam Investments LLC boosted its holdings in shares of Celanese Co. (NYSE:CE) by 534.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,391 shares of the basic materials company’s stock after buying an additional 122,486 shares during the quarter. Putnam Investments LLC owned 0.11% of Celanese worth $16,148,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new stake in shares of Celanese in the 2nd quarter valued at approximately $100,000. Steward Partners Investment Advisory LLC increased its position in shares of Celanese by 93.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 699 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of Celanese in the 2nd quarter valued at approximately $173,000. Quantum Capital Management purchased a new stake in shares of Celanese in the 2nd quarter valued at approximately $208,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Celanese in the 2nd quarter valued at approximately $211,000. Institutional investors own 94.75% of the company’s stock.

CE has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Celanese from $112.00 to $120.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. increased their target price 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. KeyCorp increased their target price 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. Citigroup increased their target price 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. Finally, Jefferies Financial Group increased their target price on shares of Celanese to $138.00 and gave the company a “buy” rating in a research report on Monday, June 18th. One equities 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 company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $123.82.

Shares of NYSE:CE opened at $113.46 on Wednesday. The firm has a market cap of $15.28 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32. The company has a quick ratio of 1.39, a current ratio of 1.96 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 issued its quarterly earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.50. The firm had revenue of $1.84 billion during 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 quarter in the prior year, the business earned $1.79 EPS. research analysts expect that Celanese Co. will post 10.57 earnings per share for the current fiscal year.

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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