Tectonic Advisors LLC Grows Stock Holdings in Celanese Co. (NYSE:CE)

Tectonic Advisors LLC increased its stake in shares of Celanese Co. (NYSE:CE) by 38.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,921 shares of the basic materials company’s stock after buying an additional 1,645 shares during the period. Tectonic Advisors LLC’s holdings in Celanese were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CE. Sanctuary Advisors LLC purchased a new stake in Celanese during the second quarter worth about $1,434,000. Handelsbanken Fonder AB raised its position in Celanese by 38.1% during the third quarter. Handelsbanken Fonder AB now owns 8,225 shares of the basic materials company’s stock worth $1,118,000 after acquiring an additional 2,270 shares during the last quarter. Czech National Bank raised its position in Celanese by 16.2% during the third quarter. Czech National Bank now owns 22,258 shares of the basic materials company’s stock worth $3,026,000 after acquiring an additional 3,111 shares during the last quarter. GAMMA Investing LLC raised its position in Celanese by 23.6% during the third quarter. GAMMA Investing LLC now owns 1,899 shares of the basic materials company’s stock worth $258,000 after acquiring an additional 363 shares during the last quarter. Finally, Mather Group LLC. raised its position in Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

Shares of CE stock opened at $68.98 on Friday. 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 quick ratio of 0.76 and a current ratio of 1.37. The company has a 50 day moving average price of $69.91 and a 200 day moving average price of $102.99. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 6.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS 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 company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the company posted $2.50 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts anticipate that Celanese Co. will post 8.11 EPS for the current year.

Analyst Upgrades and Downgrades

CE has been the subject of a number of research reports. Bank of America upgraded shares of Celanese from an “underperform” rating to a “buy” rating and cut their target price for the stock from $95.00 to $88.00 in a research report on Tuesday, January 14th. Citigroup cut their target price on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. UBS Group cut shares of Celanese from a “buy” rating to a “neutral” rating and cut their target price for the stock from $161.00 to $97.00 in a research report on Monday, November 11th. Piper Sandler cut their price objective on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and cut their price objective for the company from $135.00 to $110.00 in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Celanese presently has an average rating of “Hold” and an average target price of $102.06.

Celanese Profile

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.