Intech Investment Management LLC Decreases Stock Position in Century Aluminum Company $CENX

Intech Investment Management LLC cut its holdings in Century Aluminum Company (NASDAQ:CENX) by 37.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,349 shares of the industrial products company’s stock after selling 29,924 shares during the period. Intech Investment Management LLC owned about 0.05% of Century Aluminum worth $1,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Century Aluminum by 35.4% in the 3rd quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company’s stock worth $10,301,000 after buying an additional 91,647 shares in the last quarter. Glencore plc lifted its holdings in Century Aluminum by 33.6% in the 4th quarter. Glencore plc now owns 53,511,894 shares of the industrial products company’s stock valued at $2,096,596,000 after purchasing an additional 13,454,538 shares in the last quarter. Drummond Knight Asset Management Pty Ltd purchased a new position in Century Aluminum in the 4th quarter valued at about $12,278,000. Jefferies Financial Group Inc. purchased a new position in Century Aluminum in the 3rd quarter valued at about $6,264,000. Finally, Insight Wealth Strategies LLC purchased a new position in Century Aluminum in the 4th quarter valued at about $6,036,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. B. Riley Financial upped their target price on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company upped their target price on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets set a $75.00 target price on shares of Century Aluminum and gave the company an “outperform” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $80.00.

Insider Buying and Selling

In related news, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the completion of the sale, the chief executive officer owned 142,580 shares of the company’s stock, valued at approximately $7,908,912.60. This represents a 51.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert F. Hoffman sold 10,529 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $56.51, for a total transaction of $594,993.79. Following the sale, the chief accounting officer directly owned 56,643 shares of the company’s stock, valued at approximately $3,200,895.93. This trade represents a 15.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by corporate insiders.

Century Aluminum Trading Down 2.3%

NASDAQ CENX opened at $67.17 on Thursday. Century Aluminum Company has a 12 month low of $16.59 and a 12 month high of $70.43. The company has a 50-day moving average of $61.54 and a 200-day moving average of $49.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.30 and a quick ratio of 1.36. The company has a market cap of $6.65 billion, a P/E ratio of 20.05 and a beta of 1.90.

About Century Aluminum

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.