5 Best Materials Stocks for 2021

3. Celanese Corporation (NYSE: CE)

Number of Hedge Fund Holders: 36

Celanese Corporation (NYSE: CE) is a technology and specialty materials company, manufacturing high-performance engineered polymers in the US and internationally. The company ranks 3rd on our list of the best materials stocks for 2021.

On June 30th, Celanese Corporation (NYSE: CE) acquired Exxon Mobil’s Santoprene business for $1.15 billion, and earlier that month, the company also acquired POM Technology and sales agreements from Grupa Azoty. In the first quarter of 2021, Celanese Corporation (NYSE: CE) had an EPS of $3.46, beating estimates by $0.45. The company’s revenue was $1.8 billion, up 23.15% year over year and beating estimates by $60.7 million, and it has a gross profit margin of 23.86%. The stock has gained 21.61% in the past 6 months and year to date.

By the end of the first quarter of 2021, 36 hedge funds held stakes in Celanese Corporation (NYSE: CE) worth roughly $759 million. This is compared to 33 hedge funds in the previous quarter with a total stake value of roughly $997 million.