Central Bank Trust Co adds Celanese Corporation (CE) to its portfolio

Celanese Corporation (CE) : Central Bank Trust Co added new position in Celanese Corporation during the most recent quarter end. The investment management firm now holds 59 shares of Celanese Corporation which is valued at $3,897 , the company said in a statement filed on Oct 7, 2016 with the SEC.

Other Hedge Funds, Including , Telemus Capital boosted its stake in CE in the latest quarter, The investment management firm added 2,315 additional shares and now holds a total of 58,934 shares of Celanese Corporation which is valued at $3,881,393. Celanese Corporation makes up approx 0.43% of Telemus Capital’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CE in the latest quarter, The investment management firm added 18,199 additional shares and now holds a total of 63,307 shares of Celanese Corporation which is valued at $4,169,399. Celanese Corporation makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio. West Oak Capital added CE to its portfolio by purchasing 72 company shares during the most recent quarter which is valued at $4,742.

Celanese Corporation closed down -0.53 points or -0.80% at $66.05 with 16,82,806 shares getting traded on Friday. Post opening the session at $66.83, the shares hit an intraday low of $65.6 and an intraday high of $66.9 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. KeyBanc Capital Mkts Initiated Celanese Corporation on Oct 7, 2016 to “Overweight”, Price Target of the shares are set at $80.Celanese Corporation was Downgraded by Citigroup to ” Neutral” on Sep 7, 2016. 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 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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