Grove Bank & Trust Has $65,000 Stake in Celanese Co. (NYSE:CE)

Grove Bank & Trust trimmed its position in shares of Celanese Co. (NYSE:CE) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 932 shares of the basic materials company’s stock after selling 241 shares during the period. Grove Bank & Trust’s holdings in Celanese were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CE. DT Investment Partners LLC increased its holdings in shares of Celanese by 128.8% in the third quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Celanese by 5.2% in 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 purchasing an additional 111 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Celanese by 0.7% in 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 last quarter. Neumann Capital Management LLC increased its holdings in shares of Celanese by 5.3% in 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 last quarter. Finally, Freedom Investment Management Inc. increased its holdings 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 valued at $715,000 after purchasing an additional 161 shares during the last quarter. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CE has been the topic of several research reports. Wells Fargo & Company downgraded shares of 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 report on Tuesday, November 5th. Bank of America raised shares of Celanese from an “underperform” rating to a “buy” rating and reduced their target price for the company from $95.00 to $88.00 in a research report on Tuesday, January 14th. KeyCorp cut shares of Celanese from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised shares of Celanese from a “hold” rating to a “buy” rating and reduced their target price for the company from $135.00 to $110.00 in a research report on Wednesday, November 6th. Finally, Robert W. Baird reduced their target price on shares of Celanese from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $106.00.

Celanese Stock Performance

Celanese stock opened at $72.70 on Tuesday. The business has a 50 day moving average of $70.35 and a 200-day moving average of $108.41. Celanese Co. has a 1 year low of $64.05 and a 1 year high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market capitalization of $7.95 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.62 and a beta of 1.18.

Celanese (NYSE:CE) last released its quarterly earnings data 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). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the company earned $2.50 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Celanese Co. will post 8.13 earnings per share for the current year.

About Celanese

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.