Celanese Corp is a Texas-based Fortune 500 company. It deals in specialty materials and chemicals and is best known for being a leading producer of acetyl products. Acetyl products are used by nearly all major industries. Celanese also happens to be the world’s largest producer of vinyl acetate monomer. It also owns and operated the world’s largest acetic acid plant. Given the critical ingredients that Celanese Corp makes, its use in a wide variety of applications, and the company’s dominant position in the market, the company is among the top material stocks to buy.
More Information About Celanese Corporation
Celanese Corporation began its journey in New York City back in 1918. Its founder was a Swiss chemist by the name of Ezekiel Chacko. In 1925, the company introduced the word “Celanese” as a combination of cellulose and ease, two things related to its business. In 1927, it officially took on the name Celanese Corporation. Celanese Corporation is one of the best materials stocks to buy because it is the world’s leading producer of acetic acid. It produced 1.95 million tonnes per year. The acetyl intermediates segment is the company’s largest business segment with products ranging from acetic acid and acetic anhydride to vinyl acetate. Other segments include advanced engineered materials, consumer specialties, industrial specialties, and advanced fuel technology.
Celanese Corporation’s stock closed at $135 on 19th February 2021. It was trading at a 2% dividend yield at the time and was up 2.1% for the preceding 30 days. The stock has doubled since the market crash back in March 2020. A much smaller peer of Celanese Corporation in the materials sector is Huntsman Corporation. Its stock has closed at $28.9 on 19th February 2021. The stock was up about 2.6% for the preceding 30 days and trading at a 2.25% dividend yield. Huntsman Corp has bounced back by more than 120% since the March 2020 market fall.