Victory Capital Management Inc. lifted its position in Celanese Co. (NYSE:CE) by 31.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,525 shares of the basic materials company’s stock after purchasing an additional 10,113 shares during the quarter. Victory Capital Management Inc.’s holdings in Celanese were worth $4,584,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of CE. Advisory Alpha LLC purchased a new position in shares of Celanese in the 1st quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Celanese in the 2nd quarter worth about $28,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Celanese by 75.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. CSat Investment Advisory L.P. boosted its holdings in shares of Celanese by 112.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 480 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 254 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Celanese by 31.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 524 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 98.15% of the company’s stock.
CE has been the subject of several analyst reports. UBS Group increased their target price on Celanese from $128.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday. ValuEngine cut Celanese from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup set a $122.00 target price on Celanese and gave the company a “buy” rating in a report on Monday, July 15th. KeyCorp dropped their target price on Celanese from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, Vertical Research cut Celanese from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $119.06.
Celanese (NYSE:CE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.64 billion. Celanese had a return on equity of 38.56% and a net margin of 15.52%. Celanese’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 EPS. Sell-side analysts forecast that Celanese Co. will post 10.15 EPS for the current year.
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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