Access Financial Services Inc. Sells 2,734 Shares of Celanese Co. (NYSE:CE)

Access Financial Services Inc. lessened its stake in Celanese Co. (NYSE:CE) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,632 shares of the basic materials company’s stock after selling 2,734 shares during the quarter. Access Financial Services Inc.’s holdings in Celanese were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. DT Investment Partners LLC grew its stake in Celanese by 128.8% in the 3rd 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 in the last quarter. Fairscale Capital LLC purchased a new position in Celanese in the 2nd quarter valued at approximately $28,000. Mather Group LLC. grew its stake in Celanese by 124.0% in the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after buying an additional 222 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Celanese by 1,395.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after buying an additional 600 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Celanese during the 3rd quarter valued at $89,000. Institutional investors own 98.87% of the company’s stock.

Celanese Stock Performance

NYSE CE opened at $72.70 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The company has a 50-day simple moving average of $70.47 and a two-hundred day simple moving average of $108.85. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 0.62 and a beta of 1.18. Celanese Co. has a 12-month low of $64.05 and a 12-month high of $172.16.

Celanese (NYSE:CE) last posted its 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). The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. On average, equities analysts forecast that Celanese Co. will post 8.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Vertical Research lowered shares of Celanese from a “hold” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, October 29th. Piper Sandler reduced their price target on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley reduced their price target on shares of Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and reduced their price target for the company from $135.00 to $110.00 in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reduced their target price on Celanese from $122.00 to $88.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Celanese presently has an average rating of “Hold” and an average price target 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.