Exchange Traded Concepts LLC Purchases 534 Shares of Celanese Co. (NYSE:CE)

Exchange Traded Concepts LLC boosted its position in shares of Celanese Co. (NYSE:CE) by 81.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,190 shares of the basic materials company’s stock after buying an additional 534 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Celanese were worth $82,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Celanese by 27.4% during the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock valued at $1,286,230,000 after acquiring an additional 2,036,362 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Celanese by 608.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after purchasing an additional 592,196 shares during the period. Geode Capital Management LLC lifted its holdings in Celanese by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock worth $353,145,000 after buying an additional 177,552 shares during the period. Gateway Investment Advisers LLC lifted its holdings in Celanese by 208.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 225,402 shares of the basic materials company’s stock worth $15,600,000 after buying an additional 152,441 shares during the period. Finally, State Street Corp grew its position in shares of Celanese by 3.1% in the 3rd quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after buying an additional 136,994 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Analysts Set New Price Targets

CE has been the subject of a number of recent analyst reports. BMO Capital Markets downgraded Celanese from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $138.00 to $76.00 in a report on Monday, November 11th. Vertical Research lowered shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and cut their target price for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Piper Sandler decreased their price target on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley cut their price objective on Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.82.

Celanese Price Performance

Shares of NYSE CE opened at $70.99 on Friday. The firm has a market cap of $7.76 billion, a P/E ratio of 7.14, a PEG ratio of 1.42 and a beta of 1.18. Celanese Co. has a twelve month low of $64.05 and a twelve month high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The company has a 50 day moving average of $70.15 and a 200 day moving average of $104.51.

Celanese (NYSE:CE) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.41). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. Celanese’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. As a group, research analysts expect that Celanese Co. will post 8.11 EPS for the current fiscal year.

Celanese Profile

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.