Newgate Capital Management buys $637,145 stake in Celanese Corporation (CE)

Celanese Corporation (CE) : Newgate Capital Management scooped up 2,661 additional shares in Celanese Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 9,996 shares of Celanese Corporation which is valued at $637,145.Celanese Corporation makes up approximately 0.51% of Newgate Capital Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities reduced its stake in CE by selling 17,843 shares or 91.35% in the most recent quarter. The Hedge Fund company now holds 1,690 shares of CE which is valued at $107,721.Checchi Capital Advisers boosted its stake in CE in the latest quarter, The investment management firm added 17 additional shares and now holds a total of 2,630 shares of Celanese Corporation which is valued at $184,731. Celanese Corporation makes up approx 0.05% of Checchi Capital Advisers’s portfolio. Alpha Windward sold out all of its stake in CE during the most recent quarter. The investment firm sold 451 shares of CE which is valued $30,280.

Celanese Corporation opened for trading at $65.01 and hit $65.52 on the upside on Monday, eventually ending the session at $64.94, with a gain of 0.23% or 0.15 points. The heightened volatility saw the trading volume jump to 12,16,289 shares. Company has a market cap of $9,399 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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