Fisher Asset Management LLC Reduces Stock Position in Century Aluminum Company $CENX

Fisher Asset Management LLC cut its holdings in Century Aluminum Company (NASDAQ:CENX) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 966,575 shares of the industrial products company’s stock after selling 97,010 shares during the period. Fisher Asset Management LLC owned 1.04% of Century Aluminum worth $28,379,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new position in shares of Century Aluminum in the first quarter worth $25,000. CWM LLC lifted its holdings in Century Aluminum by 26.3% during the 3rd quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 332 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,306 shares during the period. PNC Financial Services Group Inc. grew its holdings in Century Aluminum by 12.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company’s stock valued at $80,000 after buying an additional 506 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Century Aluminum during the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Price Performance

Shares of NASDAQ:CENX opened at $52.92 on Wednesday. The company’s fifty day moving average price is $47.32 and its 200-day moving average price is $35.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.97 and a quick ratio of 0.98. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 132.30 and a beta of 2.17. Century Aluminum Company has a one year low of $13.05 and a one year high of $55.99.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.55%. The company had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities research analysts anticipate that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other Century Aluminum news, CEO Jesse E. Gary sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $48.19, for a total value of $7,228,500.00. Following the completion of the sale, the chief executive officer owned 292,580 shares of the company’s stock, valued at $14,099,430.20. This represents a 33.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Dezee sold 66,000 shares of Century Aluminum stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the transaction, the executive vice president directly owned 97,647 shares in the company, valued at $4,952,655.84. This trade represents a 40.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CENX has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. BMO Capital Markets increased their target price 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. B. Riley Financial raised their price target on shares of Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Zacks Research raised shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $54.33.

Century Aluminum Company 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.