Steigerwald Gordon & Koch Inc. Sells 7,142 Shares of Celanese Co. (NYSE:CE)

Steigerwald Gordon & Koch Inc. cut its stake in Celanese Co. (NYSE:CE - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,361 shares of the basic materials company's stock after selling 7,142 shares during the quarter. Steigerwald Gordon & Koch Inc. owned 0.10% of Celanese worth $7,500,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DT Investment Partners LLC raised its holdings in Celanese by 128.8% in the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company's stock worth $25,000 after purchasing an additional 103 shares during the period. Fairscale Capital LLC acquired a new stake in Celanese during the 2nd quarter worth $28,000. Mather Group LLC. lifted its holdings in Celanese by 124.0% during the third quarter. Mather Group LLC. now owns 401 shares of the basic materials company's stock worth $55,000 after acquiring an additional 222 shares in the last quarter. Brooklyn Investment Group grew its stake in 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 during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of 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 purchasing an additional 600 shares during the period. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered Celanese from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $165.00 to $115.00 in a research report on Tuesday, November 5th. Jefferies Financial Group lowered their price objective on shares of Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Robert W. Baird cut their price objective on shares of Celanese from $150.00 to $110.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. UBS Group cut Celanese from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Celanese from a "hold" rating to a "buy" rating and cut their price target for the company from $135.00 to $110.00 in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $106.00.

Celanese Stock Performance

CE stock traded up $0.80 during trading hours on Monday, reaching $72.70. The stock had a trading volume of 1,737,566 shares, compared to its average volume of 2,110,505. The stock has a 50-day simple moving average of $70.47 and a 200 day simple moving average of $108.85. Celanese Co. has a fifty-two week low of $64.05 and a fifty-two week high of $172.16. The stock has a market capitalization of $7.95 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76.

Celanese (NYSE:CE - Get Free Report) last issued its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.41). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.50 earnings per share. Analysts predict that Celanese Co. will post 8.13 EPS 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.