Allspring Global Investments Holdings LLC Boosts Stock Holdings in Century Aluminum Company $CENX

Allspring Global Investments Holdings LLC lifted its position in shares of Century Aluminum Company (NASDAQ:CENX) by 1,993.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 455,876 shares of the industrial products company’s stock after acquiring an additional 434,097 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Century Aluminum were worth $18,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Century Aluminum by 22.1% during the 1st quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company’s stock valued at $724,000 after acquiring an additional 7,051 shares during the period. Jones Financial Companies Lllp bought a new stake in Century Aluminum in the 1st quarter worth approximately $25,000. Empowered Funds LLC grew its position in Century Aluminum by 1.8% in the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,069 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Century Aluminum by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company’s stock valued at $2,301,000 after buying an additional 21,702 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Century Aluminum by 7.1% during the second quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company’s stock valued at $2,650,000 after acquiring an additional 9,721 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 sale, the executive vice president owned 97,647 shares of the company’s stock, valued at approximately $4,952,655.84. This trade represents a 40.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert F. Hoffman sold 10,529 shares of Century Aluminum stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total transaction of $594,993.79. Following the sale, the chief accounting officer owned 56,643 shares in the company, valued at approximately $3,200,895.93. The trade was a 15.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 401,626 shares of company stock worth $20,847,911. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CENX has been the topic of a number of recent research reports. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research raised shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. B. Riley Financial raised their price objective on shares of Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Wells Fargo & Company boosted their target price on shares of Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Century Aluminum presently has an average rating of “Buy” and an average target price of $57.00.

Century Aluminum Price Performance

CENX opened at $62.57 on Friday. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 156.43 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. The firm’s fifty day moving average is $52.08 and its 200 day moving average is $40.02. Century Aluminum Company has a fifty-two week low of $13.05 and a fifty-two week high of $64.20.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The business had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. During the same quarter in the prior year, the business posted $0.49 EPS. Century Aluminum’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current fiscal 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.