Celanese Co. (NYSE:CE) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Celanese Co. (NYSE:CE) by 70.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,348 shares of the basic materials company’s stock after purchasing an additional 5,098 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Celanese were worth $849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CE. DT Investment Partners LLC lifted its position in Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Celanese by 103.7% during the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 194 shares during the period. CKW Financial Group lifted its position in shares of Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 185 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Celanese by 43.2% in the fourth quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 202 shares during the period. Finally, Brooklyn Investment Group grew its holdings in Celanese by 51.1% during the 4th quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Piper Sandler lowered their price objective on Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Barclays reduced their target price on Celanese from $88.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, Robert W. Baird dropped their price target on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Celanese presently has a consensus rating of “Hold” and a consensus price target of $102.06.

Celanese Stock Performance

CE stock opened at $66.78 on Wednesday. Celanese Co. has a 1 year low of $64.05 and a 1 year high of $172.16. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 1.37 and a beta of 1.17. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. The stock’s fifty day moving average is $69.47 and its two-hundred day moving average is $100.76.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.