Evercore Wealth Management buys $38,304,171 stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Evercore Wealth Management scooped up 4,048 additional shares in Celanese Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 600,944 shares of Celanese Corporation which is valued at $38,304,171.Celanese Corporation makes up approximately 1.65% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , 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.Msi Financial Services Inc boosted its stake in CE in the latest quarter, The investment management firm added 1,214 additional shares and now holds a total of 3,478 shares of Celanese Corporation which is valued at $227,461. Celanese Corporation makes up approx 0.01% of Msi Financial Services Inc’s portfolio.

Celanese Corporation opened for trading at $63.57 and hit $64.35 on the upside on Thursday, eventually ending the session at $64.05, with a gain of 0.49% or 0.31 points. The heightened volatility saw the trading volume jump to 7,05,035 shares. Company has a market cap of $9,270 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.

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