Celanese Corporation (CE - Free Report) announced that it will increase the list and off-list selling prices for ethyl acetate in Europe by €150 per MT. The price hike is effective immediately or as contracts allow.
Recently, the company also stated that it will increase the prices of Dibutyl Maleate (DBM) and Dioctyl Maleate (DOM) in Europe by €100/MT. Also, the prices of Plasticizer WVC 3800 (3G8) in Europe will witness a rise of €100/MT, while in Asia price are slated to increase by $150/MT.
Celanese also announced the hike in the prices for vinyl acetate ethylene (VAE) emulsions in Asia (outside of China) by $80/MT.
The company is increasing prices of various products in response to a spike in raw material costs. Celanese witnessed raw material price inflation in its Acetyl Chain business in the last reported quarter. The company’s pricing actions are expected to support its margins and top line in 2017.
Celanese has outperformed the Zacks categorized Chemicals-Diversified industry in the last three months. The company’s shares have moved up around 6.1%, compared with roughly 4.2% gain recorded by the industry.
Celanese’s strategic measures including cost savings through productivity actions are expected to lend support to its earnings in 2017. The company is also likely to gain from capacity expansion and growth initiatives like acquisitions. Moreover, Celanese remains focused on returning value to shareholders.
Celanese currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked companies in the basic materials space include The Sherwin-Williams Company (SHW - Free Report) , Ternium S.A. (TX - Free Report) and Hitachi Chemical Company, Ltd. . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Sherwin-Williams has expected long-term earnings growth rate of 11.4%.
Ternium S.A. has expected long-term earnings growth rate of 18.4%.
Hitachi Chemical has expected long-term earnings growth rate of 5%.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Celanese Corporation (CE - Free Report) announced that it will increase the list and off-list selling prices for ethyl acetate in Europe by €150 per MT. The price hike is effective immediately or as contracts allow.
Recently, the company also stated that it will increase the prices of Dibutyl Maleate (DBM) and Dioctyl Maleate (DOM) in Europe by €100/MT. Also, the prices of Plasticizer WVC 3800 (3G8) in Europe will witness a rise of €100/MT, while in Asia price are slated to increase by $150/MT.
Celanese also announced the hike in the prices for vinyl acetate ethylene (VAE) emulsions in Asia (outside of China) by $80/MT.
The company is increasing prices of various products in response to a spike in raw material costs. Celanese witnessed raw material price inflation in its Acetyl Chain business in the last reported quarter. The company’s pricing actions are expected to support its margins and top line in 2017.
Celanese has outperformed the Zacks categorized Chemicals-Diversified industry in the last three months. The company’s shares have moved up around 6.1%, compared with roughly 4.2% gain recorded by the industry.
Celanese’s strategic measures including cost savings through productivity actions are expected to lend support to its earnings in 2017. The company is also likely to gain from capacity expansion and growth initiatives like acquisitions. Moreover, Celanese remains focused on returning value to shareholders.
Celanese currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked companies in the basic materials space include The Sherwin-Williams Company (SHW - Free Report) , Ternium S.A. (TX - Free Report) and Hitachi Chemical Company, Ltd. . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Sherwin-Williams has expected long-term earnings growth rate of 11.4%.
Ternium S.A. has expected long-term earnings growth rate of 18.4%.
Hitachi Chemical has expected long-term earnings growth rate of 5%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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