The Celanese Corp. (CE) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

The Celanese Corp. (CE) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Celanese Corp. (NYSE:CE) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 448,637 shares of the company’s stock after buying an additional 232 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.31% of Celanese Corp. worth $29,861,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CE. Old Mutual Global Investors UK Ltd. boosted its position in shares of Celanese Corp. by 1.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 210,424 shares of the company’s stock worth $14,005,000 after buying an additional 2,721 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Celanese Corp. by 1.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,151 shares of the company’s stock worth $1,408,000 after buying an additional 366 shares during the period. Berkshire Asset Management LLC PA boosted its position in shares of Celanese Corp. by 36.6% in the third quarter. Berkshire Asset Management LLC PA now owns 14,640 shares of the company’s stock worth $974,000 after buying an additional 3,925 shares during the period. Wagner Bowman Management Corp boosted its position in shares of Celanese Corp. by 2.1% in the third quarter. Wagner Bowman Management Corp now owns 12,423 shares of the company’s stock worth $826,000 after buying an additional 250 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position in shares of Celanese Corp. by 79.9% in the third quarter. Gateway Investment Advisers LLC now owns 112,229 shares of the company’s stock worth $7,470,000 after buying an additional 49,835 shares during the period. 96.16% of the stock is currently owned by institutional investors and hedge funds.

Celanese Corp. (NYSE:CE) opened at 82.56 on Thursday. Celanese Corp. has a one year low of $55.07 and a one year high of $84.97. The firm has a market cap of $11.82 billion, a P/E ratio of 27.44 and a beta of 1.25. The stock’s 50 day moving average is $81.19 and its 200 day moving average is $71.17.

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised shares of Celanese Corp. from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $76.00 to $100.00 in a research report on Tuesday, December 13th. Zacks Investment Research raised shares of Celanese Corp. from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Friday, October 21st. RBC Capital Markets raised shares of Celanese Corp. from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $76.00 to $100.00 in a research report on Tuesday, December 13th. Deutsche Bank AG reissued a “buy” rating and set a $75.00 target price (down from $78.00) on shares of Celanese Corp. in a research report on Tuesday, October 18th. Finally, KeyCorp initiated coverage on shares of Celanese Corp. in a research report on Thursday, October 6th. They set an “overweight” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $80.02.

In other news, CAO Lori A. Johnston sold 83,829 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $72.30, for a total value of $6,060,836.70. Following the completion of the sale, the chief accounting officer now directly owns 109,645 shares of the company’s stock, valued at $7,927,333.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gjon N. Nivica, Jr. sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $71.36, for a total value of $1,784,000.00. Following the completion of the sale, the senior vice president now directly owns 51,124 shares of the company’s stock, valued at $3,648,208.64. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Celanese Corp. Company Profile

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products.

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