First Trust Advisors LP Decreases Stake in Celanese Co. (NYSE:CE)

First Trust Advisors LP reduced its stake in Celanese Co. (NYSE:CE) by 21.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,158 shares of the basic materials company’s stock after selling 29,975 shares during the quarter. First Trust Advisors LP owned about 0.09% of Celanese worth $10,961,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Advisory Alpha LLC acquired a new position in Celanese in the 1st quarter worth approximately $27,000. Prime Capital Investment Advisors LLC acquired a new position in Celanese in the 4th quarter worth approximately $37,000. Investors Research Corp acquired a new position in Celanese in the 1st quarter worth approximately $41,000. Acima Private Wealth LLC increased its holdings in Celanese by 28.6% in the 1st quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock worth $44,000 after buying an additional 100 shares during the period. Finally, Icon Wealth Partners LLC acquired a new position in Celanese in the 1st quarter worth approximately $56,000. 97.19% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John K. Wulff sold 9,175 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $108.32, for a total transaction of $993,836.00. Following the sale, the director now owns 19,872 shares of the company’s stock, valued at approximately $2,152,535.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Several brokerages recently weighed in on CE. BMO Capital Markets cut their price target on shares of Celanese to $115.00 and set a “market perform” rating on the stock in a report on Thursday, June 20th. Zacks Investment Research upgraded shares of Celanese from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Deutsche Bank increased their price target on shares of Celanese from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Wednesday, April 24th. Alembic Global Advisors set a $95.00 price target on shares of Celanese and gave the stock a “sell” rating in a report on Monday, April 22nd. Finally, ValuEngine downgraded shares of Celanese from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $117.69.

Shares of NYSE CE opened at $106.14 on Friday. The firm has a market cap of $13.50 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.01 and a beta of 1.38. Celanese Co. has a 12 month low of $82.91 and a 12 month high of $119.29. The stock’s 50 day moving average price is $101.78. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.85.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.13. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Celanese had a net margin of 16.89% and a return on equity of 39.76%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company earned $2.79 EPS. On average, equities analysts forecast that Celanese Co. will post 10.38 EPS for the current year.

Celanese Company Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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