Celanese Co. (NYSE:CE) Stake Increased by Brooklyn Investment Group

Brooklyn Investment Group increased its holdings in shares of Celanese Co. (NYSE:CE) by 51.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,129 shares of the basic materials company’s stock after buying an additional 382 shares during the quarter. Brooklyn Investment Group’s holdings in Celanese were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in 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 purchasing an additional 2,036,362 shares during the last quarter. State Street Corp grew its stake 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 valued at $611,931,000 after buying an additional 136,994 shares in the last quarter. Geode Capital Management LLC increased its holdings in Celanese by 7.3% in the third 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Celanese by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock valued at $134,723,000 after acquiring an additional 69,606 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Celanese by 608.2% in the third quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after acquiring an additional 592,196 shares during the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CE. Wells Fargo & Company cut Celanese from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $165.00 to $115.00 in a research report on Tuesday, November 5th. UBS Group cut Celanese from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $161.00 to $97.00 in a research report on Monday, November 11th. Mizuho dropped their price target on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Robert W. Baird decreased their price objective on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Citigroup dropped their target price on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.00.

Celanese Price Performance

Shares of CE stock opened at $72.70 on Monday. The stock’s fifty day moving average is $70.47 and its 200-day moving average is $108.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. Celanese Co. has a 52 week low of $64.05 and a 52 week high of $172.16. The stock has a market capitalization of $7.95 billion, a PE ratio of 7.31, a PEG ratio of 0.62 and a beta of 1.18.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the company earned $2.50 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that Celanese Co. will post 8.13 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.