Weatherly Asset Management L. P. Trims Stake in Celanese Co. (NYSE:CE)

Weatherly Asset Management L. P. trimmed its stake in Celanese Co. (NYSE:CE) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,467 shares of the basic materials company’s stock after selling 440 shares during the period. Weatherly Asset Management L. P.’s holdings in Celanese were worth $586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DT Investment Partners LLC raised 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 acquiring an additional 103 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Celanese by 5.2% during the third quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock valued at $308,000 after buying an additional 111 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in Celanese by 0.7% during the third quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after purchasing an additional 145 shares during the period. Neumann Capital Management LLC lifted its position in Celanese by 5.3% during the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after purchasing an additional 150 shares during the period. Finally, Freedom Investment Management Inc. raised its position in shares of Celanese by 3.2% in the third quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock worth $715,000 after acquiring an additional 161 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CE shares. Barclays reduced their price target on shares of Celanese from $88.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Vertical Research lowered shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, October 29th. Morgan Stanley reduced their target price on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Citigroup reduced their target price on shares of Celanese from $100.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Finally, BMO Capital Markets lowered shares of Celanese from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $138.00 to $76.00 in a report on Monday, November 11th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Celanese has an average rating of “Hold” and an average price target of $102.06.

Celanese Trading Down 1.6 %

CE opened at $66.98 on Tuesday. The stock has a market capitalization of $7.32 billion, a PE ratio of 6.74, a P/E/G ratio of 1.37 and a beta of 1.17. The firm’s fifty day moving average price is $69.58 and its 200 day moving average price is $101.27. 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 Co. has a 12-month low of $64.05 and a 12-month high of $172.16.

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.