Principal Financial Group Inc. Sells 14,267 Shares of Celanese Corporation $CE

Principal Financial Group Inc. trimmed its holdings in shares of Celanese Corporation (NYSE:CE) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 525,378 shares of the basic materials company’s stock after selling 14,267 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Celanese worth $22,108,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in Celanese by 111.1% during the second quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 270 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Celanese by 55.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 623 shares of the basic materials company’s stock valued at $34,000 after buying an additional 222 shares during the period. Versant Capital Management Inc grew its stake in shares of Celanese by 140.4% in the 3rd quarter. Versant Capital Management Inc now owns 827 shares of the basic materials company’s stock valued at $35,000 after buying an additional 483 shares during the period. Salomon & Ludwin LLC acquired a new position in Celanese during the 3rd quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Celanese by 100.0% in the second quarter. Smartleaf Asset Management LLC now owns 662 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 331 shares in the last quarter. Institutional investors and hedge funds own 98.87% of the company’s stock.

Celanese Trading Up 5.7%

Shares of CE stock opened at $55.01 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.04 and a current ratio of 1.63. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of -1.95 and a beta of 1.12. Celanese Corporation has a 52-week low of $35.13 and a 52-week high of $70.51. The company has a 50-day simple moving average of $44.41 and a two-hundred day simple moving average of $44.01.

Celanese (NYSE:CE) last announced its earnings results on Thursday, November 6th. The basic materials company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.51 billion. Celanese had a positive return on equity of 9.87% and a negative net margin of 31.85%.The company’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. Research analysts anticipate that Celanese Corporation will post 8.79 EPS for the current fiscal year.

Insider Transactions at Celanese

In related news, CFO Chuck Kyrish acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was acquired at an average price of $41.03 per share, for a total transaction of $205,150.00. Following the completion of the acquisition, the chief financial officer owned 10,914 shares of the company’s stock, valued at approximately $447,801.42. This represents a 84.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CE shares. Citigroup boosted their price objective on Celanese from $56.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Evercore lowered their price objective on shares of Celanese from $75.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Morgan Stanley initiated coverage on shares of Celanese in a report on Tuesday, January 20th. They set an “equal weight” rating and a $50.00 price objective for the company. Wells Fargo & Company reissued an “equal weight” rating and set a $45.00 target price (down from $55.00) on shares of Celanese in a research report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Celanese in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.44.

Celanese Profile

Celanese Corporation is a global chemical and specialty materials company that develops, manufactures and markets a broad portfolio of products serving diverse industries. The company operates through two primary business segments—Engineered Materials and Acetyl Chain—offering solutions that range from high-performance polymers and specialty additives to industrial chemicals and intermediates. Its engineered materials are used in applications such as automotive components, consumer electronics, medical devices and packaging, while its acetyl derivatives find uses in coatings, adhesives, solvents and personal care products.

In the Engineered Materials segment, Celanese produces a variety of high-performance thermoplastics, polyether-block-amide (PEBA) elastomers and functional additives designed to enhance product durability, thermal resistance and sustainability.