Caisse DE Depot ET Placement DU Quebec Has $33.01 Million Stake in Celanese Co. (CE)

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Caisse DE Depot ET Placement DU Quebec grew its stake in Celanese Co. (NYSE:CE) by 1,056.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,200 shares of the basic materials company’s stock after purchasing an additional 271,500 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Celanese were worth $33,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Korea Investment CORP grew its position in Celanese by 48.9% in the second quarter. Korea Investment CORP now owns 92,830 shares of the basic materials company’s stock worth $10,310,000 after acquiring an additional 30,500 shares during the period. Envestnet Asset Management Inc. grew its position in Celanese by 2,199.1% in the second quarter. Envestnet Asset Management Inc. now owns 39,039 shares of the basic materials company’s stock worth $4,336,000 after acquiring an additional 37,341 shares during the period. Richard Bernstein Advisors LLC grew its position in Celanese by 7.6% in the second quarter. Richard Bernstein Advisors LLC now owns 58,043 shares of the basic materials company’s stock worth $6,446,000 after acquiring an additional 4,103 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Celanese by 142.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,814 shares of the basic materials company’s stock worth $757,000 after acquiring an additional 4,007 shares during the period. Finally, MUFG Americas Holdings Corp grew its position in Celanese by 746.8% in the second quarter. MUFG Americas Holdings Corp now owns 2,227 shares of the basic materials company’s stock worth $247,000 after acquiring an additional 1,964 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.

CE has been the subject of several research analyst reports. Jefferies Financial Group raised their price target on Celanese to $138.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Royal Bank of Canada restated a “buy” rating and set a $134.00 price target on shares of Celanese in a research report on Friday, July 13th. BMO Capital Markets raised their price target on Celanese from $137.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, June 15th. Morgan Stanley raised their price target on Celanese from $112.00 to $120.00 and gave the stock a “$113.06” rating in a research report on Monday, July 23rd. Finally, Nomura raised their price target on Celanese from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $123.82.

Shares of NYSE CE opened at $114.98 on Thursday. The firm has a market capitalization of $15.77 billion, a PE ratio of 12.17, a P/E/G ratio of 1.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.39 and a current ratio of 1.96. Celanese Co. has a 12-month low of $95.45 and a 12-month high of $119.29.

Celanese (NYSE:CE) last announced its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.50. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Celanese had a return on equity of 37.74% and a net margin of 16.57%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $1.79 earnings per share. analysts anticipate that Celanese Co. will post 10.57 earnings per share for the current year.

In other news, EVP Peter G. Edwards sold 3,674 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $115.44, for a total value of $424,126.56. Following the sale, the executive vice president now directly owns 12,160 shares in the company, valued at $1,403,750.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by company insiders.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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