Janus Capital Management LLC cut its position in shares of Celanese Corporation (NYSE:CE) by 43.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,604 shares of the basic materials company’s stock after selling 68,800 shares during the period. Janus Capital Management LLC owned 0.06% of Celanese Corporation worth $7,961,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CE. Dodge & Cox bought a new position in Celanese Corporation during the fourth quarter worth $1,048,252,000. Vanguard Group Inc. raised its position in Celanese Corporation by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,737,016 shares of the basic materials company’s stock worth $1,054,571,000 after buying an additional 295,657 shares in the last quarter. BlackRock Inc. raised its position in Celanese Corporation by 5,604.5% in the first quarter. BlackRock Inc. now owns 7,632,901 shares of the basic materials company’s stock worth $685,818,000 after buying an additional 7,499,096 shares in the last quarter. State Street Corp raised its position in Celanese Corporation by 6.5% in the first quarter. State Street Corp now owns 3,658,510 shares of the basic materials company’s stock worth $328,728,000 after buying an additional 224,136 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Celanese Corporation by 1.1% in the first quarter. Artisan Partners Limited Partnership now owns 2,812,053 shares of the basic materials company’s stock worth $252,663,000 after buying an additional 30,163 shares in the last quarter. Institutional investors own 98.37% of the company’s stock.
Shares of Celanese Corporation (CE) opened at 97.80 on Friday. Celanese Corporation has a 52 week low of $60.59 and a 52 week high of $98.25. The firm has a 50 day moving average price of $89.10 and a 200 day moving average price of $87.46. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 17.04 and a beta of 1.28.
Celanese Corporation (NYSE:CE) last released its quarterly earnings results on Monday, April 17th. The basic materials company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.09. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Celanese Corporation had a return on equity of 30.92% and a net margin of 15.14%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS. Equities analysts forecast that Celanese Corporation will post $7.28 EPS for the current year.
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A number of research analysts have recently weighed in on CE shares. Barclays PLC dropped their target price on Celanese Corporation from $105.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, April 25th. Citigroup Inc. raised their target price on Celanese Corporation from $100.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. J P Morgan Chase & Co restated a “neutral” rating and issued a $97.00 target price (up previously from $90.00) on shares of Celanese Corporation in a report on Tuesday, June 20th. Jefferies Group LLC restated a “buy” rating and issued a $104.00 target price (up previously from $100.00) on shares of Celanese Corporation in a report on Saturday, April 22nd. Finally, Vertical Research lowered Celanese Corporation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $101.00 to $103.00 in a report on Monday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $97.12.
About Celanese Corporation
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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