Jennison Associates LLC Has $611,000 Holdings in Celanese Co. (NYSE:CE)

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Jennison Associates LLC lowered its position in Celanese Co. (NYSE:CE) by 90.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,198 shares of the basic materials company’s stock after selling 56,311 shares during the period. Jennison Associates LLC’s holdings in Celanese were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CE. Acima Private Wealth LLC purchased a new position in shares of Celanese during the fourth quarter worth approximately $31,000. Pearl River Capital LLC purchased a new position in shares of Celanese during the fourth quarter worth approximately $36,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Celanese during the fourth quarter worth approximately $37,000. Investors Research Corp purchased a new position in shares of Celanese during the first quarter worth approximately $41,000. Finally, Icon Wealth Partners LLC purchased a new position in shares of Celanese during the first quarter worth approximately $56,000. 97.25% of the stock is owned by institutional investors and hedge funds.

Shares of CE stock opened at $105.26 on Friday. The company has a market cap of $13.19 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.03 and a current ratio of 1.58. Celanese Co. has a 52-week low of $82.91 and a 52-week high of $119.29.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $2.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.13. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.76 billion. Celanese had a net margin of 16.89% and a return on equity of 39.76%. Celanese’s revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company posted $2.79 earnings per share. Sell-side analysts anticipate that Celanese Co. will post 10.53 earnings per share for the current fiscal year.

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

A number of equities analysts have recently commented on CE shares. ValuEngine raised shares of Celanese from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Zacks Investment Research raised shares of Celanese from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Barclays cut their price objective on shares of Celanese from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Deutsche Bank lowered shares of Celanese from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a report on Sunday, April 14th. Finally, Alembic Global Advisors set a $95.00 price objective on shares of Celanese and gave the company a “sell” rating in a report on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Celanese currently has an average rating of “Hold” and an average price target of $119.53.

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About Celanese

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.

Read More: When can a hold rating present a buying opportunity?

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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