Brown Brothers Harriman Co Lowers stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Brown Brothers Harriman Co reduced its stake in Celanese Corporation by 0.5% during the most recent quarter end. The investment management company now holds a total of 6,064,427 shares of Celanese Corporation which is valued at $398,614,787 after selling 30,252 shares in Celanese Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Celanese Corporation makes up approximately 1.99% of Brown Brothers Harriman Co’s portfolio.

Other Hedge Funds, Including , Afam Capital reduced its stake in CE by selling 2,992 shares or 2.67% in the most recent quarter. The Hedge Fund company now holds 109,200 shares of CE which is valued at $7,177,716. Celanese Corporation makes up approx 1.13% of Afam Capital’s portfolio.Ubs Asset Management Americas Inc boosted its stake in CE in the latest quarter, The investment management firm added 4,788 additional shares and now holds a total of 347,938 shares of Celanese Corporation which is valued at $23,047,413. Celanese Corporation makes up approx 0.03% of Ubs Asset Management Americas Inc’s portfolio.Tlp Group reduced its stake in CE by selling 365 shares or 3.84% in the most recent quarter. The Hedge Fund company now holds 9,135 shares of CE which is valued at $593,227. Celanese Corporation makes up approx 0.36% of Tlp Group’s portfolio.Shell Asset Management Co boosted its stake in CE in the latest quarter, The investment management firm added 11,642 additional shares and now holds a total of 35,146 shares of Celanese Corporation which is valued at $2,298,548. Celanese Corporation makes up approx 0.05% of Shell Asset Management Co’s portfolio.

Celanese Corporation closed down -0.68 points or -1.06% at $63.75 with 7,68,758 shares getting traded on Thursday. Post opening the session at $64.56, the shares hit an intraday low of $63.21 and an intraday high of $64.56 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Celanese Corporation reported $1.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $1.55. The company had revenue of $1351.00 million for the quarter, compared to analysts expectations of $1426.07 million. The company’s revenue was down -8.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.58 EPS.

Many Wall Street Analysts have commented on Celanese Corporation. Shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Sector Perform” and Lowered the Price Target to $ 72 from a previous price target of $76 .Celanese Corporation was Initiated by Susquehanna to “Positive” on Jul 1, 2016.

Celanese Corporation is a technology and specialty materials company. The Company’s business involves processing chemical raw materials such as methanol carbon monoxide and ethylene and natural products including wood pulp into chemicals thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials Consumer Specialties Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene ultra-high molecular weight polyethylene polybutylene terephthalate and liquid crystal polymers among others. Consumer Specialties’ products include acetate tow acetate flakes acetate film and high intensity sweeteners among others. Industrial Specialties’ products include conventional emulsions vinyl acetate ethylene emulsions and ethylene vinyl acetate among others. Acetyl Intermediates include acetic acid vinyl acetate monomer acetic anhydride and acetaldehyde among others.

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