Brooklyn Investment Group Purchases 382 Shares of Celanese Co. (NYSE:CE)

Brooklyn Investment Group grew its position in Celanese Co. (NYSE:CE) by 51.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,129 shares of the basic materials company’s stock after buying an additional 382 shares during the period. Brooklyn Investment Group’s holdings in Celanese were worth $78,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. DT Investment Partners LLC grew its stake in Celanese by 128.8% in the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Fairscale Capital LLC acquired a new position in shares of Celanese in the 2nd quarter valued at approximately $28,000. Mather Group LLC. raised its holdings in Celanese by 124.0% during the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock worth $55,000 after buying an additional 222 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Celanese by 1,395.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after buying an additional 600 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Celanese in the third quarter valued at approximately $89,000. Institutional investors own 98.87% of the company’s stock.

Analyst Ratings Changes

CE has been the topic of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Vertical Research cut Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, October 29th. Royal Bank of Canada lowered their price target on Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Citigroup cut their price objective on Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, Piper Sandler reduced their target price on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.00.

Celanese Stock Up 1.1 %

Shares of CE opened at $72.70 on Monday. The firm has a 50 day simple moving average of $70.47 and a two-hundred day simple moving average of $108.85. The company has a market cap of $7.95 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.62 and a beta of 1.18. Celanese Co. has a one year low of $64.05 and a one year high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76.

Celanese (NYSE:CE) last announced its quarterly earnings data on Monday, November 4th. The basic materials company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. Celanese’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts forecast that Celanese Co. will post 8.13 EPS for the current fiscal year.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. 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.