Celanese Corporation $CE Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in Celanese Corporation (NYSE:CE) by 13.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,788 shares of the basic materials company’s stock after purchasing an additional 18,365 shares during the period. Thrivent Financial for Lutherans’ holdings in Celanese were worth $6,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in Celanese by 111.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock valued at $28,000 after buying an additional 270 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Celanese by 55.4% in the second quarter. SBI Securities Co. Ltd. now owns 623 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Celanese by 140.4% in the third quarter. Versant Capital Management Inc now owns 827 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 483 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Celanese during the third quarter valued at $36,000. Finally, Smartleaf Asset Management LLC increased its position in Celanese by 100.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 662 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 331 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Stock Performance

Shares of NYSE:CE opened at $55.01 on Friday. The business has a 50-day moving average of $44.41 and a two-hundred day moving average of $44.11. The firm has a market capitalization of $6.02 billion, a PE ratio of -1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.63 and a quick ratio of 1.04. Celanese Corporation has a 12 month low of $35.13 and a 12 month high of $70.51.

Celanese (NYSE:CE) last issued its earnings results on Thursday, November 6th. The basic materials company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Celanese had a positive return on equity of 9.87% and a negative net margin of 31.85%.The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. As a group, research analysts forecast that Celanese Corporation will post 8.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CE shares. Royal Bank Of Canada upped their target price on shares of Celanese from $43.00 to $48.00 and gave the company a “sector perform” rating in a report on Friday, January 16th. Jefferies Financial Group upgraded shares of Celanese from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday. Zacks Research cut shares of Celanese from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Bank of America reduced their price target on Celanese from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, Citigroup raised their price objective on Celanese from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Celanese currently has an average rating of “Hold” and an average target price of $55.44.

Insiders Place Their Bets

In other Celanese news, CFO Chuck Kyrish acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was bought at an average cost of $41.03 per share, for a total transaction of $205,150.00. Following the completion of the purchase, the chief financial officer directly owned 10,914 shares in the company, valued at $447,801.42. This represents a 84.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Celanese Profile

Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.

In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.