Rakuten Securities Inc. grew its stake in shares of Celanese Corporation (NYSE:CE – Free Report) by 29,242.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 40,493 shares of the basic materials company’s stock after acquiring an additional 40,355 shares during the quarter. Rakuten Securities Inc.’s holdings in Celanese were worth $1,704,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Celanese by 41.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,450 shares of the basic materials company’s stock valued at $1,842,000 after purchasing an additional 9,543 shares during the period. NewEdge Advisors LLC increased its stake in Celanese by 265.2% during the 1st quarter. NewEdge Advisors LLC now owns 5,032 shares of the basic materials company’s stock worth $286,000 after purchasing an additional 3,654 shares in the last quarter. Parallel Advisors LLC raised its holdings in Celanese by 53.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,467 shares of the basic materials company’s stock worth $81,000 after buying an additional 513 shares during the period. Sovran Advisors LLC lifted its position in Celanese by 14.7% in the 2nd quarter. Sovran Advisors LLC now owns 6,639 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 852 shares in the last quarter. Finally, Wedmont Private Capital bought a new stake in shares of Celanese in the second quarter valued at about $202,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.
Celanese Trading Up 2.2%
Shares of CE stock opened at $46.87 on Thursday. Celanese Corporation has a 12-month low of $35.13 and a 12-month high of $75.84. The company has a market capitalization of $5.13 billion, a PE ratio of -1.66 and a beta of 1.12. The firm has a 50 day moving average price of $41.39 and a two-hundred day moving average price of $45.35. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 2.66.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Tudor Pickering upgraded shares of Celanese from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Evercore ISI lowered their price target on Celanese from $75.00 to $45.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Wells Fargo & Company reiterated an “equal weight” rating and set a $45.00 price objective (down previously from $55.00) on shares of Celanese in a research note on Friday, December 19th. Citigroup reissued a “buy” rating on shares of Celanese in a research note on Thursday. Finally, Royal Bank Of Canada set a $43.00 target price on shares of Celanese in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.53.
Get Our Latest Analysis on Celanese
Insider Buying and Selling
In other Celanese news, CFO Chuck Kyrish acquired 5,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of $41.03 per share, for a total transaction of $205,150.00. Following the purchase, the chief financial officer directly owned 10,914 shares of the company’s stock, valued at $447,801.42. This trade represents a 84.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.
About Celanese
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.
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