Principal Financial Group Inc. Lowers Stake in Celanese Co. (CE)

Principal Financial Group Inc. reduced its position in Celanese Co. (NYSE:CE) by 19.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,961 shares of the basic materials company’s stock after selling 6,361 shares during the period. Principal Financial Group Inc.’s holdings in Celanese were worth $2,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in shares of Celanese by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,276 shares of the basic materials company’s stock valued at $501,000 after buying an additional 14 shares during the period. Toronto Dominion Bank boosted its position in shares of Celanese by 8.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,731 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 134 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in shares of Celanese by 1.9% in the 2nd quarter. Pittenger & Anderson Inc. now owns 7,165 shares of the basic materials company’s stock worth $680,000 after purchasing an additional 135 shares during the last quarter. Stanley Laman Group Ltd. boosted its position in shares of Celanese by 2.3% in the 2nd quarter. Stanley Laman Group Ltd. now owns 6,576 shares of the basic materials company’s stock worth $624,000 after purchasing an additional 148 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Celanese by 4.2% in the 2nd quarter. Synovus Financial Corp now owns 4,076 shares of the basic materials company’s stock worth $382,000 after purchasing an additional 166 shares during the last quarter. 96.16% of the stock is owned by institutional investors.

In other Celanese news, Director John K. Wulff sold 2,500 shares of Celanese stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $105.88, for a total value of $264,700.00. Following the sale, the director now owns 30,175 shares of the company’s stock, valued at approximately $3,194,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher W. Jensen sold 1,000 shares of Celanese stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $104.68, for a total value of $104,680.00. Following the completion of the sale, the chief financial officer now directly owns 60,086 shares in the company, valued at approximately $6,289,802.48. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Several research firms have recently issued reports on CE. Royal Bank of Canada raised their price target on Celanese from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Jefferies Group restated a “buy” rating and issued a $122.00 price target on shares of Celanese in a research report on Thursday, October 19th. KeyCorp restated a “buy” rating and issued a $106.00 price target on shares of Celanese in a research report on Thursday, August 24th. Citigroup reduced their price target on Celanese from $122.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. Finally, Nomura raised their price target on Celanese from $97.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Celanese currently has a consensus rating of “Buy” and a consensus target price of $107.74.

Celanese Co. (NYSE:CE) traded down $0.88 during mid-day trading on Tuesday, reaching $105.66. The company’s stock had a trading volume of 323,300 shares, compared to its average volume of 864,826. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $14,450.66, a price-to-earnings ratio of 15.11, a PEG ratio of 1.61 and a beta of 1.32. Celanese Co. has a 52-week low of $78.38 and a 52-week high of $109.11.

Celanese (NYSE:CE) last posted its earnings results on Monday, October 16th. The basic materials company reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.01. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.49 billion. Celanese had a return on equity of 31.98% and a net margin of 13.66%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 earnings per share. sell-side analysts expect that Celanese Co. will post 7.37 earnings per share for the current year.

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Celanese Profile

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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