Bank of Montreal Can decreased its position in Celanese Corporation (NYSE:CE) by 50.6% during the third quarter, Holdings Channel reports. The firm owned 22,662 shares of the company’s stock after selling 23,230 shares during the period. Bank of Montreal Can’s holdings in Celanese Corporation were worth $1,508,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CE. Creative Planning boosted its stake in shares of Celanese Corporation by 261.1% in the third quarter. Creative Planning now owns 1,755 shares of the company’s stock worth $117,000 after buying an additional 1,269 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Celanese Corporation during the second quarter worth $133,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of Celanese Corporation by 123.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,339 shares of the company’s stock worth $153,000 after buying an additional 1,290 shares during the period. Advisor Group Inc. acquired a new position in shares of Celanese Corporation during the second quarter worth $152,000. Finally, Pacer Advisors Inc. boosted its position in shares of Celanese Corporation by 10.3% in the second quarter. Pacer Advisors Inc. now owns 2,692 shares of the company’s stock worth $176,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Institutional Ownership by Quarter for Celanese Corporation (NYSE:CE)

Celanese Corporation (NYSE:CE) traded down 0.92% during mid-day trading on Friday, reaching $82.52. 397,456 shares of the company traded hands. Celanese Corporation has a 52-week low of $55.07 and a 52-week high of $84.97. The firm’s 50-day moving average is $80.72 and its 200 day moving average is $70.67. The stock has a market capitalization of $11.82 billion, a PE ratio of 27.42 and a beta of 1.25.

Celanese Corporation (NYSE:CE) last issued its quarterly earnings data on Monday, October 17th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06. Celanese Corporation had a net margin of 8.17% and a return on equity of 30.69%. The company earned $1.32 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company earned $1.50 earnings per share. Celanese Corporation’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities research analysts expect that Celanese Corporation will post $6.60 earnings per share for the current year.

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A number of research analysts recently weighed in on CE shares. Deutsche Bank AG restated a “buy” rating and issued a $75.00 price objective (down previously from $78.00) on shares of Celanese Corporation in a report on Tuesday, October 18th. Royal Bank Of Canada upgraded shares of Celanese Corporation from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $76.00 to $100.00 in a report on Tuesday, December 13th. Zacks Investment Research upgraded shares of Celanese Corporation from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Thursday. RBC Capital Markets upgraded shares of Celanese Corporation from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $76.00 to $100.00 in a report on Tuesday, December 13th. Finally, KeyCorp started coverage on shares of Celanese Corporation in a report on Thursday, October 6th. They issued an “overweight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.02.

In other Celanese Corporation news, SVP Gjon N. Nivica, Jr. sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $71.36, for a total value of $1,784,000.00. Following the completion of the sale, the senior vice president now owns 51,124 shares of the company’s stock, valued at $3,648,208.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lori A. Johnston sold 83,829 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $72.30, for a total transaction of $6,060,836.70. Following the completion of the sale, the chief accounting officer now directly owns 109,645 shares of the company’s stock, valued at approximately $7,927,333.50. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

About Celanese Corporation

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.

5 Day Chart for NYSE:CE

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