abrdn plc Buys 2,832 Shares of Celanese Co. (NYSE:CE)

abrdn plc raised its stake in Celanese Co. (NYSE:CE) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,971 shares of the basic materials company’s stock after acquiring an additional 2,832 shares during the quarter. abrdn plc’s holdings in Celanese were worth $2,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Celanese by 27.4% in the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after buying an additional 2,036,362 shares during the last quarter. State Street Corp raised its stake in shares of Celanese by 3.1% during the third quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock worth $611,931,000 after acquiring an additional 136,994 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Celanese by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,606,172 shares of the basic materials company’s stock worth $353,145,000 after acquiring an additional 177,552 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Celanese by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock worth $134,723,000 after acquiring an additional 69,606 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Celanese by 608.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 689,570 shares of the basic materials company’s stock valued at $93,754,000 after purchasing an additional 592,196 shares in the last quarter. 98.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CE shares. BMO Capital Markets lowered Celanese from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $138.00 to $76.00 in a research note on Monday, November 11th. Royal Bank of Canada dropped their target price on shares of Celanese from $122.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group reduced their price target on shares of Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Piper Sandler lowered their price objective on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised Celanese from a “hold” rating to a “buy” rating and cut their price objective for the company from $135.00 to $110.00 in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Celanese has a consensus rating of “Hold” and a consensus price target of $102.06.

Celanese Trading Down 1.6 %

CE stock opened at $66.98 on Tuesday. Celanese Co. has a 52 week low of $64.05 and a 52 week high of $172.16. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 1.37 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The business has a fifty day simple moving average of $69.58 and a 200-day simple moving average of $101.27.

Celanese Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.