Gavekal Capital buys $14,075,544 stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Gavekal Capital scooped up 116,282 additional shares in Celanese Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 203,081 shares of Celanese Corporation which is valued at $14,075,544.Celanese Corporation makes up approximately 5.10% of Gavekal Capital’s portfolio.

Celanese Corporation closed down -0.02 points or -0.03% at $69.31 with 6,84,030 shares getting traded on Friday. Post opening the session at $69.36, the shares hit an intraday low of $69.1 and an intraday high of $70.13 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Banced Corp sold out all of its stake in CE during the most recent quarter. The investment firm sold 4,131 shares of CE which is valued $286,320.Eqis Capital Management reduced its stake in CE by selling 1,531 shares or 16.17% in the most recent quarter. The Hedge Fund company now holds 7,935 shares of CE which is valued at $531,962. Celanese Corporation makes up approx 0.04% of Eqis Capital Management’s portfolio.Curbstone Financial Management Corp reduced its stake in CE by selling 600 shares or 3.86% in the most recent quarter. The Hedge Fund company now holds 14,950 shares of CE which is valued at $1,002,248. Celanese Corporation makes up approx 0.34% of Curbstone Financial Management Corp’s portfolio.

On the company’s financial health, Celanese Corporation reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $1.24. The company had revenue of $1334.00 million for the quarter, compared to analysts expectations of $1362.20 million. The company’s revenue was down -14.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Celanese Corporation. Shares were Reiterated by Cowen on Jan 29, 2016 to “Market Perform” and Lowered the Price Target to $ 66 from a previous price target of $72 .Shares were Reiterated by Barclays on Jan 25, 2016 to “Overweight” and Lowered the Price Target to $ 76 from a previous price target of $80 .

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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