Telemus Capital Lowers stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Telemus Capital reduced its stake in Celanese Corporation by 3.09% during the most recent quarter end. The investment management company now holds a total of 56,619 shares of Celanese Corporation which is valued at $4,023,346 after selling 1,804 shares in Celanese Corporation , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Celanese Corporation makes up approximately 0.46% of Telemus Capital’s portfolio.

Other Hedge Funds, Including , 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.Palisade Asset Management boosted its stake in CE in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 4,013 shares of Celanese Corporation which is valued at $277,138. Celanese Corporation makes up approx 0.05% of Palisade Asset Management’s portfolio.Gateway Investment Advisers boosted its stake in CE in the latest quarter, The investment management firm added 13,548 additional shares and now holds a total of 62,394 shares of Celanese Corporation which is valued at $4,308,930. Celanese Corporation makes up approx 0.04% of Gateway Investment Advisers’s portfolio.Curbstone Financial Management Corp boosted its stake in CE in the latest quarter, The investment management firm added 350 additional shares and now holds a total of 15,300 shares of Celanese Corporation which is valued at $1,027,242. Celanese Corporation makes up approx 0.34% of Curbstone Financial Management Corp’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CE in the latest quarter, The investment management firm added 14,919 additional shares and now holds a total of 45,108 shares of Celanese Corporation which is valued at $3,028,551. Celanese Corporation makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Celanese Corporation opened for trading at $70.27 and hit $71.18 on the upside on Wednesday, eventually ending the session at $71.06, with a gain of 1.21% or 0.85 points. The heightened volatility saw the trading volume jump to 4,65,951 shares. Company has a market cap of $10,477 M.

On the company’s financial health, Celanese Corporation reported $1.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $1.49. The company had revenue of $1404.00 million for the quarter, compared to analysts expectations of $1394.73 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.72 EPS.

Many Wall Street Analysts have commented on Celanese Corporation. Celanese Corporation was Initiated by Susquehanna to “Positive” on Jul 1, 2016. Company shares were Upgraded by Cowen on Apr 29, 2016 to ” Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $66 .Company shares were Downgraded by Alembic Global Advisors on Apr 25, 2016 to ” Underweight”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .

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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