Gmt Capital Corp Lowers stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Gmt Capital Corp reduced its stake in Celanese Corporation by 2.51% during the most recent quarter end. The investment management company now holds a total of 5,062,820 shares of Celanese Corporation which is valued at $354.1 Million after selling 130,400 shares in Celanese Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Celanese Corporation makes up approximately 9.01% of Gmt Capital Corp’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in CE by selling 34,926 shares or 48.76% in the most recent quarter. The Hedge Fund company now holds 36,708 shares of CE which is valued at $2.6 Million. Celanese Corporation makes up approx 0.02% of Cornerstone Capital Management Holdings.’s portfolio.Ngam Advisors reduced its stake in CE by selling 188 shares or 1.81% in the most recent quarter. The Hedge Fund company now holds 10,218 shares of CE which is valued at $723,741. Celanese Corporation makes up approx 0.01% of Ngam Advisors’s portfolio.World Asset Management Inc boosted its stake in CE in the latest quarter, The investment management firm added 317 additional shares and now holds a total of 3,685 shares of Celanese Corporation which is valued at $260,530. Celanese Corporation makes up approx 0.01% of World Asset Management Inc’s portfolio. Chicago Partners Investment Group sold out all of its stake in CE during the most recent quarter. The investment firm sold 230 shares of CE which is valued $16,261.

Celanese Corporation opened for trading at $70.21 and hit $71.37 on the upside on Monday, eventually ending the session at $70.96, with a gain of 1.44% or 1.01 points. The heightened volatility saw the trading volume jump to 7,83,528 shares. Company has a market cap of $10,463 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. 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 .Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 77 from a previous price target of $72 .

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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