Man Group plc Takes $2.78 Million Position in Century Aluminum Company $CENX

Man Group plc purchased a new position in Century Aluminum Company (NASDAQ:CENX) during the 2nd quarter, HoldingsChannel reports. The fund purchased 60,517 shares of the industrial products company’s stock, valued at approximately $2,784,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Century Aluminum in the 2nd quarter valued at about $474,129,000. Vanguard Group Inc. boosted its holdings in shares of Century Aluminum by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock worth $271,901,000 after purchasing an additional 1,094,257 shares during the last quarter. State Street Corp grew its position in shares of Century Aluminum by 1.8% in the fourth quarter. State Street Corp now owns 4,295,711 shares of the industrial products company’s stock valued at $168,306,000 after purchasing an additional 77,895 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Century Aluminum by 109.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company’s stock valued at $107,422,000 after purchasing an additional 957,571 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Century Aluminum by 12.3% in the fourth quarter. Morgan Stanley now owns 1,609,093 shares of the industrial products company’s stock valued at $63,044,000 after purchasing an additional 176,730 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on CENX. UBS Group initiated coverage on Century Aluminum in a research report on Monday, August 10th. They set a “buy” rating and a $60.00 price objective on the stock. Zacks Research downgraded Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Wells Fargo & Company raised their target price on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of Century Aluminum in a research report on Tuesday, August 18th. Finally, Wall Street Zen lowered shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Century Aluminum has an average rating of “Moderate Buy” and an average price target of $72.00.

Century Aluminum Trading Down 1.8%

NASDAQ CENX opened at $45.77 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The stock has a market capitalization of $4.53 billion, a P/E ratio of 7.91 and a beta of 1.96. The firm’s 50-day moving average is $45.51 and its two-hundred day moving average is $53.65. Century Aluminum Company has a 12 month low of $20.91 and a 12 month high of $70.43.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. The business had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. Century Aluminum’s quarterly revenue was up 59.0% on a year-over-year basis. On average, sell-side analysts anticipate that Century Aluminum Company will post 7.75 earnings per share for the current year.

Century Aluminum Profile

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.