Gyroscope Capital Management Group Lowers stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Gyroscope Capital Management Group reduced its stake in Celanese Corporation by 10.24% during the most recent quarter end. The investment management company now holds a total of 6,120 shares of Celanese Corporation which is valued at $405,389 after selling 698 shares in Celanese Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Celanese Corporation makes up approximately 0.32% of Gyroscope Capital Management Group’s portfolio.

Other Hedge Funds, Including , Advisors Asset Management boosted its stake in CE in the latest quarter, The investment management firm added 364 additional shares and now holds a total of 3,548 shares of Celanese Corporation which is valued at $235,020. Timber Hill added CE to its portfolio by purchasing 4,387 company shares during the most recent quarter which is valued at $284,234. Celanese Corporation makes up approx 0.02% of Timber Hill’s portfolio.Penobscot Investment Management Company boosted its stake in CE in the latest quarter, The investment management firm added 270 additional shares and now holds a total of 6,750 shares of Celanese Corporation which is valued at $428,085. Celanese Corporation makes up approx 0.15% of Penobscot Investment Management Company’s portfolio.Prescott Group Capital Management L.l.c. boosted its stake in CE in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 30,000 shares of Celanese Corporation which is valued at $2,107,200. Celanese Corporation makes up approx 0.49% of Prescott Group Capital Management L.l.c.’s portfolio.Cutler Group Lp reduced its stake in CE by selling 4,102 shares or 60.13% in the most recent quarter. The Hedge Fund company now holds 2,720 shares of CE which is valued at $187,843. Celanese Corporation makes up approx 0.01% of Cutler Group Lp’s portfolio.

Celanese Corporation opened for trading at $66.01 and hit $66.99 on the upside on Monday, eventually ending the session at $66.74, with a gain of 1.54% or 1.01 points. The heightened volatility saw the trading volume jump to 8,77,274 shares. Company has a market cap of $9,660 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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