First Mercantile Trust Co. Cuts Holdings in Celanese Co. (NYSE:CE)

First Mercantile Trust Co. lowered its stake in shares of Celanese Co. (NYSE:CE) by 84.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,080 shares of the basic materials company’s stock after selling 5,870 shares during the period. First Mercantile Trust Co.’s holdings in Celanese were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Celanese by 29.0% during the fourth quarter. BlackRock Inc. now owns 9,467,199 shares of the basic materials company’s stock worth $851,766,000 after buying an additional 2,127,883 shares during the period. Norges Bank bought a new stake in shares of Celanese in the fourth quarter valued at about $88,985,000. Geode Capital Management LLC raised its holdings in shares of Celanese by 61.5% in the fourth quarter. Geode Capital Management LLC now owns 1,823,172 shares of the basic materials company’s stock valued at $163,756,000 after acquiring an additional 694,491 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Celanese by 30.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,977 shares of the basic materials company’s stock valued at $220,874,000 after acquiring an additional 569,316 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Celanese by 74.0% in the fourth quarter. Northern Trust Corp now owns 1,337,518 shares of the basic materials company’s stock valued at $120,336,000 after acquiring an additional 568,909 shares in the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

In other news, Director John K. Wulff sold 9,175 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $108.32, for a total transaction of $993,836.00. Following the completion of the transaction, the director now directly owns 19,872 shares in the company, valued at approximately $2,152,535.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

CE has been the subject of several recent research reports. Zacks Investment Research downgraded Celanese from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. ValuEngine upgraded Celanese from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Deutsche Bank downgraded shares of Celanese from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a report on Sunday, April 14th. BMO Capital Markets boosted their target price on shares of Celanese from $107.00 to $126.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Finally, Nomura boosted their target price on shares of Celanese from $109.00 to $114.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $119.53.

Shares of CE stock traded down $1.07 during trading hours on Friday, hitting $104.19. 719,900 shares of the company’s stock were exchanged, compared to its average volume of 1,129,253. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.58 and a quick ratio of 1.03. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.99 and a beta of 1.38. Celanese Co. has a fifty-two week low of $82.91 and a fifty-two week high of $119.29.

Celanese (NYSE:CE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.13. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.76 billion. Celanese had a return on equity of 39.76% and a net margin of 16.89%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 EPS. Analysts anticipate that Celanese Co. will post 10.53 earnings per share for the current fiscal year.

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Celanese Profile

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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