Goldman Sachs Group Inc. cut its holdings in shares of Century Aluminum Company (NASDAQ:CENX – Free Report) by 8.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 379,348 shares of the industrial products company’s stock after selling 34,918 shares during the quarter. Goldman Sachs Group Inc. owned about 0.41% of Century Aluminum worth $7,041,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Woodline Partners LP bought a new position in Century Aluminum during the first quarter worth $19,317,000. Impala Asset Management LLC grew its position in Century Aluminum by 33.6% in the 1st quarter. Impala Asset Management LLC now owns 932,154 shares of the industrial products company’s stock worth $17,301,000 after purchasing an additional 234,673 shares during the last quarter. Nuveen LLC bought a new position in shares of Century Aluminum during the 1st quarter worth about $14,726,000. Encompass Capital Advisors LLC bought a new position in shares of Century Aluminum during the 1st quarter worth about $13,920,000. Finally, Wellington Management Group LLP raised its position in shares of Century Aluminum by 68.6% during the first quarter. Wellington Management Group LLP now owns 693,752 shares of the industrial products company’s stock valued at $12,876,000 after buying an additional 282,163 shares during the last quarter. 61.59% of the stock is owned by institutional investors.
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Century Aluminum Trading Up 6.4%
Shares of CENX opened at $26.09 on Monday. The company has a current ratio of 1.75, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.44 billion, a PE ratio of 22.49 and a beta of 2.55. Century Aluminum Company has a 1 year low of $13.05 and a 1 year high of $26.10. The stock has a 50 day simple moving average of $21.83 and a 200-day simple moving average of $18.98.
Century Aluminum (NASDAQ:CENX – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.39). Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The company had revenue of $628.10 million during the quarter, compared to the consensus estimate of $606.10 million. On average, sell-side analysts predict that Century Aluminum Company will post 2.76 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms recently weighed in on CENX. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 18th. B. Riley raised their price objective on Century Aluminum from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Wall Street Zen cut Century Aluminum from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Century Aluminum in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $25.67.
Check Out Our Latest Stock Analysis on CENX
Insider Buying and Selling at Century Aluminum
In related news, SVP Matt Aboud sold 12,027 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total transaction of $279,868.29. Following the completion of the sale, the senior vice president owned 62,589 shares in the company, valued at $1,456,446.03. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.68% of the company’s stock.
Century Aluminum Company Profile
(Free Report)
Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.
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