Rakuten Securities Inc. boosted its position in shares of Celanese Corporation (NYSE:CE – Free Report) by 29,242.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,493 shares of the basic materials company’s stock after acquiring an additional 40,355 shares during the period. Rakuten Securities Inc.’s holdings in Celanese were worth $1,704,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in shares of Celanese by 182.1% in the second quarter. Federated Hermes Inc. now owns 5,081,458 shares of the basic materials company’s stock worth $281,157,000 after purchasing an additional 3,280,109 shares during the period. Norges Bank acquired a new stake in Celanese in the 2nd quarter valued at approximately $114,934,000. Bank of America Corp DE increased its position in Celanese by 103.7% in the 2nd quarter. Bank of America Corp DE now owns 1,645,689 shares of the basic materials company’s stock worth $91,056,000 after buying an additional 837,944 shares during the period. Mizuho Markets Americas LLC lifted its holdings in shares of Celanese by 149.6% during the second quarter. Mizuho Markets Americas LLC now owns 1,248,055 shares of the basic materials company’s stock worth $69,055,000 after buying an additional 747,987 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Celanese by 706.8% in the second quarter. Marshall Wace LLP now owns 819,833 shares of the basic materials company’s stock valued at $45,361,000 after acquiring an additional 718,218 shares during the period. 98.87% of the stock is currently owned by institutional investors.
Celanese Stock Up 2.2%
Shares of NYSE CE opened at $46.87 on Thursday. Celanese Corporation has a 12-month low of $35.13 and a 12-month high of $75.84. The firm’s 50-day simple moving average is $41.39 and its 200 day simple moving average is $45.35. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 2.66. The company has a market cap of $5.13 billion, a price-to-earnings ratio of -1.66 and a beta of 1.12.
Insider Transactions at Celanese
In other Celanese news, CFO Chuck Kyrish bought 5,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were bought at an average cost of $41.03 per share, for a total transaction of $205,150.00. Following the transaction, the chief financial officer owned 10,914 shares in the company, valued at approximately $447,801.42. This trade represents a 84.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Royal Bank Of Canada set a $43.00 target price on shares of Celanese in a research note on Tuesday, October 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $45.00 price objective (down previously from $55.00) on shares of Celanese in a research report on Friday, December 19th. Tudor Pickering upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Citigroup restated a “buy” rating on shares of Celanese in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Celanese in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.53.
Get Our Latest Report on Celanese
Celanese Company Profile
Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.
In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.
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