Congress Asset Management Co. Reduces Holdings in Century Aluminum (NASDAQ:CENX)

Congress Asset Management Co. lessened its position in shares of Century Aluminum (NASDAQ:CENX) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 216,943 shares of the industrial products company’s stock after selling 1,582 shares during the quarter. Congress Asset Management Co.’s holdings in Century Aluminum were worth $4,026,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CENX. Glencore plc acquired a new stake in Century Aluminum during the fourth quarter worth $729,427,000. Pertento Partners LLP acquired a new stake in shares of Century Aluminum during the 4th quarter worth about $7,678,000. Arrowstreet Capital Limited Partnership raised its holdings in Century Aluminum by 348.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 496,970 shares of the industrial products company’s stock valued at $9,055,000 after buying an additional 386,133 shares during the period. Millennium Management LLC lifted its position in Century Aluminum by 333.7% in the fourth quarter. Millennium Management LLC now owns 457,728 shares of the industrial products company’s stock valued at $8,340,000 after buying an additional 352,186 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Century Aluminum by 208.3% in the fourth quarter. Nuveen Asset Management LLC now owns 413,223 shares of the industrial products company’s stock valued at $7,529,000 after buying an additional 279,211 shares during the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CENX. BMO Capital Markets upgraded shares of Century Aluminum from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Monday, February 24th. Wall Street Zen upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating in a report on Friday, May 9th.

Insider Transactions at Century Aluminum

In other news, CAO Robert F. Hoffman sold 2,500 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $19.99, for a total transaction of $49,975.00. Following the sale, the chief accounting officer now owns 64,083 shares of the company’s stock, valued at approximately $1,281,019.17. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Century Aluminum Trading Down 1.0%

Shares of NASDAQ CENX opened at $19.53 on Monday. The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.82 billion, a PE ratio of 6.18 and a beta of 2.54. Century Aluminum has a twelve month low of $11.40 and a twelve month high of $25.39. The stock has a fifty day simple moving average of $16.43 and a 200-day simple moving average of $18.61.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). The firm had revenue of $633.90 million for the quarter, compared to analysts’ expectations of $643.80 million. Century Aluminum had a net margin of 14.69% and a return on equity of 13.38%. On average, equities analysts forecast that Century Aluminum will post 2.76 earnings per share for the current year.

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.