Lapides Asset Management Lowers stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Lapides Asset Management reduced its stake in Celanese Corporation by 5.72% during the most recent quarter end. The investment management company now holds a total of 117,100 shares of Celanese Corporation which is valued at $7,756,704 after selling 7,100 shares in Celanese Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Celanese Corporation makes up approximately 1.28% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust reduced its stake in CE by selling 123 shares or 12.77% in the most recent quarter. The Hedge Fund company now holds 840 shares of CE which is valued at $55,642. Celanese Corporation makes up approx 0.01% of Finemark National Bank Trust’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in CE by selling 3,291 shares or 6.7% in the most recent quarter. The Hedge Fund company now holds 45,833 shares of CE which is valued at $2,921,395. Celanese Corporation makes up approx 0.04% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Newsquare Capital reduced its stake in CE by selling 29 shares or 26.61% in the most recent quarter. The Hedge Fund company now holds 80 shares of CE which is valued at $5,232.Spc Financial reduced its stake in CE by selling 530 shares or 3.09% in the most recent quarter. The Hedge Fund company now holds 16,610 shares of CE which is valued at $1,166,686. Celanese Corporation makes up approx 0.41% of Spc Financial’s portfolio. Berkshire Asset Managementpa added CE to its portfolio by purchasing 10,715 company shares during the most recent quarter which is valued at $761,408. Celanese Corporation makes up approx 0.11% of Berkshire Asset Managementpa’s portfolio.

Celanese Corporation opened for trading at $66.01 and hit $66.99 on the upside on Monday, eventually ending the session at $66.74, with a gain of 1.54% or 1.01 points. The heightened volatility saw the trading volume jump to 8,77,274 shares. Company has a market cap of $9,660 M.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Celanese Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Celanese Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.