Patton Albertson Miller Group LLC Has $1.64 Million Stock Holdings in Celanese Co. (NYSE:CE)

Patton Albertson Miller Group LLC decreased its holdings in shares of Celanese Co. (NYSE:CE) by 41.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,617 shares of the basic materials company’s stock after selling 16,385 shares during the period. Patton Albertson Miller Group LLC’s holdings in Celanese were worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP boosted its position in Celanese by 27.4% during the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares during the period. State Street Corp boosted its holdings in shares of Celanese by 3.1% during the 3rd quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after buying an additional 136,994 shares during the period. Geode Capital Management LLC grew its stake in Celanese by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock valued at $353,145,000 after buying an additional 177,552 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Celanese by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock worth $134,723,000 after acquiring an additional 69,606 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Celanese by 608.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock worth $93,754,000 after acquiring an additional 592,196 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price target on Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Barclays dropped their price target on Celanese from $101.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 19th. Royal Bank of Canada reduced their price objective on Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company downgraded shares of Celanese from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $165.00 to $115.00 in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and cut their target price for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $102.82.

Celanese Stock Up 0.6 %

NYSE CE opened at $74.17 on Friday. Celanese Co. has a 1-year low of $64.05 and a 1-year high of $172.16. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average is $70.30 and its two-hundred day moving average is $106.94. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 1.46 and a beta of 1.18.

Celanese (NYSE:CE) last announced its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share 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 company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $2.50 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Equities analysts forecast that Celanese Co. will post 8.11 earnings per share for the current fiscal year.

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.