Allspring Global Investments Holdings LLC Makes New $640,000 Investment in Century Aluminum Company $CENX

Allspring Global Investments Holdings LLC bought a new stake in shares of Century Aluminum Company (NASDAQ:CENX) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 21,779 shares of the industrial products company’s stock, valued at approximately $640,000.

A number of other large investors also recently made changes to their positions in CENX. State Street Corp grew its stake in shares of Century Aluminum by 13.2% during the second quarter. State Street Corp now owns 3,665,546 shares of the industrial products company’s stock worth $66,053,000 after purchasing an additional 426,306 shares during the period. Boston Partners boosted its holdings in Century Aluminum by 340.1% during the second quarter. Boston Partners now owns 1,733,668 shares of the industrial products company’s stock worth $31,248,000 after buying an additional 1,339,744 shares during the last quarter. Sourcerock Group LLC grew its position in shares of Century Aluminum by 612.0% during the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock worth $25,662,000 after buying an additional 1,224,088 shares during the period. Geode Capital Management LLC increased its stake in shares of Century Aluminum by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,300,691 shares of the industrial products company’s stock valued at $23,443,000 after acquiring an additional 6,397 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of Century Aluminum by 155.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 541,111 shares of the industrial products company’s stock valued at $9,751,000 after acquiring an additional 329,298 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Stock Performance

Shares of CENX stock opened at $45.69 on Friday. Century Aluminum Company has a 12 month low of $13.05 and a 12 month high of $45.74. The company’s fifty day simple moving average is $33.25 and its 200-day simple moving average is $27.49. The firm has a market cap of $4.26 billion, a PE ratio of 53.75 and a beta of 2.26. The company has a quick ratio of 0.79, a current ratio of 1.71 and a debt-to-equity ratio of 0.69.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.23). The company had revenue of $632.20 million for the quarter, compared to the consensus estimate of $629.85 million. Century Aluminum had a return on equity of 12.83% and a net margin of 3.47%.The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. Equities research analysts expect that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company increased their target price on shares of Century Aluminum from $37.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Century Aluminum currently has a consensus rating of “Buy” and a consensus target price of $36.00.

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.