OP Asset Management Ltd Invests $1.04 Million in Century Aluminum Company $CENX

OP Asset Management Ltd bought a new stake in Century Aluminum Company (NASDAQ:CENX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,683 shares of the industrial products company’s stock, valued at approximately $1,038,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Glencore plc raised its position in Century Aluminum by 33.6% in the 4th quarter. Glencore plc now owns 53,511,894 shares of the industrial products company’s stock valued at $2,096,596,000 after purchasing an additional 13,454,538 shares during the last quarter. Sourcerock Group LLC increased its stake in shares of Century Aluminum by 612.0% in the second quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock valued at $25,662,000 after buying an additional 1,224,088 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Century Aluminum by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock valued at $271,901,000 after buying an additional 1,094,257 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings 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 buying an additional 957,571 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Century Aluminum by 392.3% during the 3rd quarter. American Century Companies Inc. now owns 767,692 shares of the industrial products company’s stock worth $22,539,000 after buying an additional 611,758 shares in the last quarter. 61.59% of the stock is owned by institutional investors and hedge funds.

Century Aluminum Price Performance

CENX opened at $46.55 on Tuesday. The company has a fifty day moving average price of $59.30 and a two-hundred day moving average price of $52.88. 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 Company has a 52 week low of $17.22 and a 52 week high of $70.43. The firm has a market capitalization of $4.61 billion, a PE ratio of 13.90 and a beta of 1.90.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CENX. Wall Street Zen raised shares of Century Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Zacks Research cut shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Wells Fargo & Company increased their price objective on Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings raised Century Aluminum from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Finally, BMO Capital Markets set a $75.00 price objective on Century Aluminum and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

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.