Here’s Why Artisan Partners Sold its Celanese (CE) Shares

Artisan Partners, a high value-added investment management firm, published its “Artisan Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of 4.48% was recorded by its Investor Class: ARTLX, 4.55% by its Advisor Class: APDLX, and 4.54% was gained by its Institutional Class: APHLX for the fourth quarter of 2021, all below the Russell 1000® Value Index that delivered a 7.77% return, and the Russell 1000® Index that gained 9.78% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Artisan Value Fund, in its Q4 2021 investor letter, mentioned Celanese Corporation (NYSE: CE) and discussed its stance on the firm. Celanese Corporation is an Irving, Texas-based global technology and specialty materials company with a $15.2 billion market capitalization. CE delivered a -15.93% return since the beginning of the year, while its 12-month returns are up by 1.71%. The stock closed at $141.28 per share on February 25, 2022.

Here is what Artisan Value Fund has to say about Celanese Corporation in its Q4 2021 investor letter:

“In Q4, the portfolio participated in the up market but trailed its benchmark. Relative performance during the period was held back by our comparative sector and industry exposures, as well as by underperformance among our health care holdings. Our sales activity in Q4 was focused on our successes. We fully exited Celanese, a chemicals and advanced materials producer, as shares have benefited from rising raw materials prices.”

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Our calculations show that Celanese Corporation (NYSE: CE) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. CE was in 35 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 26 funds in the previous quarter. Celanese Corporation (NYSE: CE) delivered a -12.19% return in the past 3 months.

In November 2021, we published an article that includes CE in the 10 Industrial Stocks To Buy According To Billionaire Ray Dalio. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.