Custom Index Systems LLC Has $352,000 Stock Holdings in Celanese Co. (NYSE:CE)

Custom Index Systems LLC reduced its position in Celanese Co. (NYSE:CE) by 8.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,082 shares of the basic materials company’s stock after selling 469 shares during the period. Custom Index Systems LLC’s holdings in Celanese were worth $352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DT Investment Partners LLC grew its holdings 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 during the period. First Trust Direct Indexing L.P. grew its stake in shares of Celanese by 5.2% during the third quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock worth $308,000 after purchasing an additional 111 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in Celanese by 0.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after purchasing an additional 145 shares during the last quarter. Neumann Capital Management LLC lifted its stake in Celanese by 5.3% in the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after buying an additional 150 shares during the period. Finally, Freedom Investment Management Inc. lifted its stake in Celanese by 3.2% in the third quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock valued at $715,000 after buying an additional 161 shares during the period. Institutional investors own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CE. Piper Sandler lowered their price target on Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. BMO Capital Markets downgraded shares of Celanese from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $138.00 to $76.00 in a research note on Monday, November 11th. KeyCorp cut shares of Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Robert W. Baird lowered their price objective on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Morgan Stanley decreased their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.82.

Celanese Stock Performance

Shares of CE stock opened at $70.99 on Friday. The firm has a market cap of $7.76 billion, a PE ratio of 7.14, a P/E/G ratio of 1.42 and a beta of 1.18. Celanese Co. has a 12 month low of $64.05 and a 12 month high of $172.16. The company’s fifty day simple moving average is $70.15 and its 200-day simple moving average is $104.51. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last issued its quarterly earnings results 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 for 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%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.50 earnings per share. Equities 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.