Marnell Management LLC Buys Shares of 107,056 Century Aluminum Company $CENX

Marnell Management LLC acquired a new position in shares of Century Aluminum Company (NASDAQ:CENX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 107,056 shares of the industrial products company’s stock, valued at approximately $4,194,000. Century Aluminum accounts for approximately 2.0% of Marnell Management LLC’s portfolio, making the stock its 13th biggest position. Marnell Management LLC owned 0.11% of Century Aluminum as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Glencore plc raised its stake in shares of Century Aluminum by 33.6% in the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company’s stock valued at $2,096,596,000 after acquiring 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 fourth quarter valued at $12,278,000. Jefferies Financial Group Inc. purchased a new position in Century Aluminum in the third quarter valued at $6,264,000. Insight Wealth Strategies LLC purchased a new position in Century Aluminum in the fourth quarter valued at $6,036,000. Finally, Ruffer LLP purchased a new position in Century Aluminum in the fourth quarter valued at $936,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CENX shares. Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings raised Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Wall Street Zen raised Century Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday. BMO Capital Markets set a $75.00 price objective on Century Aluminum and gave the stock an “outperform” rating in a report on Thursday, April 9th. Finally, B. Riley Financial raised their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Century Aluminum Price Performance

Shares of CENX opened at $61.19 on Monday. Century Aluminum Company has a fifty-two week low of $16.59 and a fifty-two week high of $70.43. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 18.27 and a beta of 1.90. The firm has a 50-day simple moving average of $62.70 and a 200-day simple moving average of $51.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30.

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.