Twelve Points Wealth Management LLC Boosts Holdings in Celanese Co. (NYSE:CE)

Twelve Points Wealth Management LLC grew its stake in shares of Celanese Co. (NYSE:CE) by 157.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,124 shares of the basic materials company’s stock after purchasing an additional 6,197 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Celanese were worth $701,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. DT Investment Partners LLC boosted its stake in shares of Celanese by 128.8% during the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. UMB Bank n.a. raised its holdings in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 194 shares in the last quarter. CKW Financial Group raised its holdings in shares of Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Celanese by 124.0% in the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 222 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in shares of Celanese by 51.1% in the fourth quarter. Brooklyn Investment Group now owns 1,129 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 382 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

Celanese Price Performance

Shares of NYSE CE opened at $71.83 on Wednesday. The business’s 50 day moving average price is $70.32 and its 200 day moving average price is $105.79. The firm has a market cap of $7.85 billion, a P/E ratio of 7.23, a P/E/G ratio of 1.46 and a beta of 1.18. Celanese Co. has a 52 week low of $64.05 and a 52 week high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last issued its earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the company earned $2.50 EPS. Celanese’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts expect that Celanese Co. will post 8.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CE shares. Piper Sandler decreased their price objective on Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada reduced their target price on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and reduced their target price for the stock from $135.00 to $110.00 in a report on Wednesday, November 6th. KeyCorp downgraded shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Finally, Citigroup reduced their target price on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $102.82.

Celanese Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.