Top Investors Are Growing More Excited About Celanese Corporation (CE)

As industrywide interest jumped, key money managers were leading the bulls’ herd. Luminus Management, managed by Jonathan Barrett and Paul Segal, assembled the biggest position in Celanese Corporation (NYSE:CE). Luminus Management had $19.8 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also made a $8.9 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Malcolm Fairbairn’s Ascend Capital, and D E Shaw.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Celanese Corporation (NYSE:CE) but similarly valued. We will take a look at Cabot Oil & Gas Corporation (NYSE:COG), Kohl’s Corporation (NYSE:KSS), Hasbro, Inc. (NASDAQ:HAS), and NASDAQ OMX Group, Inc. (NASDAQ:NDAQ). This group of stocks’ market caps resemble Celanese Corporation’s market cap.

As you can see these stocks had an average of 24.5 hedge funds with bullish positions and the average amount invested in these stocks was $288 million. That figure was $561 million in Celanese Corporation’s case. Cabot Oil & Gas Corporation (NYSE:COG) is the most popular stock in this table. On the other hand NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) is the least popular one with only 15 bullish hedge fund positions. Celanese Corporation (NYSE:CE) is not the most popular stock in this group but hedge fund interest is still above average and there was more money invested in it than in any of the other stocks. This is a positive signal when coupled with rapidly improving sentiment and makes the stock worthy of consideration for addition to one’s portfolio.