Assenagon Asset Management S.A. Increases Stock Position in Celanese Co. (NYSE:CE)

Assenagon Asset Management S.A. grew its stake in Celanese Co. (NYSE:CE - Free Report) by 403.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,855 shares of the basic materials company's stock after acquiring an additional 86,416 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of Celanese worth $7,465,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. DT Investment Partners LLC grew its holdings 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 buying an additional 103 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Celanese in the 2nd quarter valued at about $28,000. Mather Group LLC. boosted its stake 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 worth $55,000 after buying an additional 222 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Celanese by 1,395.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company's stock worth $87,000 after acquiring an additional 600 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Celanese during the 3rd quarter valued at approximately $89,000. 98.87% of the stock is currently owned by institutional investors.

Celanese Stock Performance

Shares of CE stock opened at $72.70 on Monday. The firm has a 50 day moving average of $70.47 and a two-hundred day moving average of $108.85. The stock has a market capitalization of $7.95 billion, a PE ratio of 7.31, a P/E/G ratio of 0.62 and a beta of 1.18. 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 Co. has a 52 week low of $64.05 and a 52 week high of $172.16.

Celanese (NYSE:CE - Get Free Report) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (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 company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter last year, the business posted $2.50 earnings per share. The company's revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts predict that Celanese Co. will post 8.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CE shares. Piper Sandler reduced their target price on Celanese from $98.00 to $77.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a "hold" rating to a "buy" rating and decreased their target price for the stock from $135.00 to $110.00 in a research note on Wednesday, November 6th. Wells Fargo & Company cut Celanese from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. Mizuho lowered their price target on shares of Celanese from $120.00 to $86.00 and set a "neutral" rating on the stock in a research report on Thursday, December 5th. Finally, BMO Capital Markets cut Celanese from a "market perform" rating to an "underperform" rating and decreased their price objective for the company from $138.00 to $76.00 in a report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $106.00.

Celanese Company 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.