Celanese (CE) Reaches New 52-Week High at $112.79
Celanese Co. (NYSE:CE) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $112.79 and last traded at $111.03, with a volume of 668400 shares. The stock had previously closed at $110.76.
A number of brokerages recently issued reports on CE. SunTrust Banks reissued a “buy” rating on shares of Celanese in a research note on Wednesday. Wells Fargo & Co restated a “market perform” rating and set a $110.00 price objective (up from $104.00) on shares of Celanese in a report on Wednesday. ValuEngine downgraded Celanese from a “strong-buy” rating to a “buy” rating in a report on Friday, October 6th. Jefferies Group restated a “buy” rating and set a $122.00 price objective on shares of Celanese in a report on Thursday, October 19th. Finally, Royal Bank of Canada raised their price objective on Celanese from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $108.28.
The stock has a market capitalization of $15,320.00, a price-to-earnings ratio of 19.08, a PEG ratio of 1.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.16 and a current ratio of 1.69.
In related news, CFO Christopher W. Jensen sold 3,000 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the chief financial officer now directly owns 52,924 shares in the company, valued at approximately $5,821,640. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John K. Wulff sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total value of $264,700.00. Following the transaction, the director now owns 30,175 shares in the company, valued at $3,194,929. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $699,380 over the last quarter. Company insiders own 0.42% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CE. Principal Financial Group Inc. lifted its position in Celanese by 3.7% during the 2nd quarter. Principal Financial Group Inc. now owns 33,322 shares of the basic materials company’s stock worth $3,164,000 after acquiring an additional 1,197 shares during the period. Eaton Vance Management lifted its holdings in shares of Celanese by 2.0% in the 2nd quarter. Eaton Vance Management now owns 15,343 shares of the basic materials company’s stock valued at $1,457,000 after buying an additional 305 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Celanese by 24.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,059 shares of the basic materials company’s stock valued at $101,000 after buying an additional 206 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Celanese by 11.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 145,373 shares of the basic materials company’s stock valued at $13,803,000 after buying an additional 14,454 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Celanese by 78.5% in the 2nd quarter. Amalgamated Bank now owns 14,438 shares of the basic materials company’s stock valued at $1,371,000 after buying an additional 6,349 shares during the period. 96.06% of the stock is owned by institutional investors.
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Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.
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