Wagner Bowman Management Corp Sells 100 Shares of Celanese Corp. (CE)
Wagner Bowman Management Corp reduced its position in shares of Celanese Corp. (NYSE:CE) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,173 shares of the company’s stock after selling 100 shares during the period. Wagner Bowman Management Corp’s holdings in Celanese Corp. were worth $796,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Celanese Corp. during the fourth quarter valued at approximately $78,245,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Celanese Corp. by 4.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,177 shares of the company’s stock valued at $3,025,000 after buying an additional 1,889 shares in the last quarter. Telemus Capital LLC increased its position in shares of Celanese Corp. by 47.5% in the first quarter. Telemus Capital LLC now owns 58,423 shares of the company’s stock valued at $3,827,000 after buying an additional 18,802 shares in the last quarter. Aperio Group LLC increased its position in shares of Celanese Corp. by 14.5% in the first quarter. Aperio Group LLC now owns 38,173 shares of the company’s stock valued at $2,500,000 after buying an additional 4,833 shares in the last quarter. Finally, Virginia Retirement System purchased a new position in shares of Celanese Corp. during the first quarter valued at approximately $1,145,000. Institutional investors own 96.03% of the company’s stock.
Shares of Celanese Corp. (NYSE:CE) traded down 0.52% during mid-day trading on Tuesday, reaching $61.76. 635,751 shares of the company’s stock were exchanged. The stock has a market cap of $8.94 billion, a PE ratio of 26.82 and a beta of 1.85. Celanese Corp. has a one year low of $55.07 and a one year high of $74.55. The company has a 50 day moving average price of $64.36 and a 200-day moving average price of $67.29.
Celanese Corp. (NYSE:CE) last posted its quarterly earnings data on Monday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Celanese Corp. had a net margin of 6.20% and a return on equity of 30.07%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. On average, analysts predict that Celanese Corp. will post $6.54 EPS for the current year.
Several research analysts have commented on CE shares. Zacks Investment Research downgraded shares of Celanese Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Jefferies Group restated a “buy” rating on shares of Celanese Corp. in a research report on Tuesday, August 23rd. Royal Bank Of Canada lowered their price objective on shares of Celanese Corp. from $76.00 to $72.00 and set a “sector perform” rating for the company in a research report on Thursday, July 28th. Barclays PLC lowered their price objective on shares of Celanese Corp. from $82.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Finally, Citigroup Inc. lowered their price target on shares of Celanese Corp. from $82.00 to $81.00 and set a “buy” rating for the company in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Celanese Corp. presently has an average rating of “Buy” and an average price target of $73.83.
Celanese Corp. Company Profile
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.
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