Rehmann Capital Advisory Group lowered its stake in shares of Celanese Co. (NYSE:CE) by 55.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,065 shares of the basic materials company’s stock after selling 1,300 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Celanese were worth $118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in shares of Celanese in the 2nd quarter worth about $100,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Celanese by 93.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after acquiring an additional 699 shares during the last quarter. Squar Milner Financial Services LLC acquired a new stake in shares of Celanese in the 2nd quarter worth about $173,000. Quantum Capital Management acquired a new stake in shares of Celanese in the 2nd quarter worth about $208,000. Finally, Wellington Shields & Co. LLC acquired a new stake in shares of Celanese in the 2nd quarter worth about $211,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Several equities research analysts have commented on the stock. Citigroup increased their price objective on shares of Celanese from $131.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Celanese from $110.00 to $114.00 and gave the company a “$113.06” rating in a research note on Monday, July 23rd. BMO Capital Markets increased their price objective on shares of Celanese from $137.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, June 15th. KeyCorp increased their price objective on shares of Celanese from $141.00 to $145.00 and gave the company a “$113.06” rating in a research note on Monday, July 23rd. Finally, Morgan Stanley increased their price objective on shares of Celanese from $112.00 to $120.00 and gave the company a “$113.06” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $123.82.

Celanese stock opened at $116.22 on Monday. Celanese Co. has a twelve month low of $95.45 and a twelve month high of $119.29. The company has a market cap of $15.69 billion, a PE ratio of 15.48, a P/E/G ratio of 1.10 and a beta of 1.32. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.85.

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

Celanese Company Profile

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.

Featured Story: Fundamental Analysis – How It Helps Investors

Want to see what other hedge funds are holding CE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celanese Co. (NYSE:CE).

Institutional Ownership by Quarter for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.