Verition Fund Management LLC Grows Position in Century Aluminum (NASDAQ:CENX)

Verition Fund Management LLC raised its position in Century Aluminum (NASDAQ:CENX) by 381.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,513 shares of the industrial products company’s stock after buying an additional 93,099 shares during the quarter. Verition Fund Management LLC owned approximately 0.13% of Century Aluminum worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Encompass Capital Advisors LLC boosted its stake in shares of Century Aluminum by 1,208.7% during the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock worth $23,477,000 after buying an additional 1,294,538 shares during the period. Bank of Montreal Can grew its stake in shares of Century Aluminum by 341.1% in the 2nd quarter. Bank of Montreal Can now owns 411,968 shares of the industrial products company’s stock valued at $6,900,000 after purchasing an additional 318,579 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Century Aluminum by 125.7% in the second quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock valued at $8,906,000 after purchasing an additional 296,101 shares during the period. American Century Companies Inc. raised its stake in shares of Century Aluminum by 30.4% during the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock worth $19,870,000 after purchasing an additional 276,304 shares during the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of Century Aluminum by 232.1% during the third quarter. Bridgewater Associates LP now owns 247,404 shares of the industrial products company’s stock worth $4,015,000 after purchasing an additional 172,903 shares during the period. 61.59% of the stock is owned by institutional investors and hedge funds.

Century Aluminum Stock Performance

Century Aluminum stock opened at $23.92 on Friday. The stock has a fifty day moving average price of $19.35 and a 200 day moving average price of $16.98. Century Aluminum has a 52 week low of $7.28 and a 52 week high of $25.39. The firm has a market capitalization of $2.22 billion, a P/E ratio of 8.00 and a beta of 2.50. The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.31. The business had revenue of $539.10 million for the quarter, compared to analysts’ expectations of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same period last year, the company earned ($0.13) earnings per share. Equities research analysts anticipate that Century Aluminum will post 0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Wolfe Research raised Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Tuesday. StockNews.com upgraded Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, B. Riley lifted their price target on Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

About Century Aluminum

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.