Assenagon Asset Management S.A. Buys 957,571 Shares of Century Aluminum Company $CENX

Assenagon Asset Management S.A. increased its stake in Century Aluminum Company (NASDAQ:CENX) by 109.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,830,324 shares of the industrial products company’s stock after buying an additional 957,571 shares during the period. Assenagon Asset Management S.A.’s holdings in Century Aluminum were worth $107,422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CENX. Glencore plc boosted 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 buying an additional 13,454,538 shares during the period. Vanguard Group Inc. increased its position in shares of Century Aluminum by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock worth $271,901,000 after acquiring an additional 1,094,257 shares during the period. State Street Corp raised its stake in shares of Century Aluminum by 1.8% during the fourth quarter. State Street Corp now owns 4,295,711 shares of the industrial products company’s stock valued at $168,306,000 after acquiring an additional 77,895 shares in the last quarter. Morgan Stanley raised its stake in shares of Century Aluminum by 12.3% during the fourth quarter. Morgan Stanley now owns 1,609,093 shares of the industrial products company’s stock valued at $63,044,000 after acquiring an additional 176,730 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Century Aluminum by 2.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,457,401 shares of the industrial products company’s stock valued at $42,789,000 after purchasing an additional 27,999 shares during the period. Institutional investors own 61.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CENX. Wall Street Zen raised Century Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. B. Riley Financial lifted their target price on Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Weiss Ratings raised Century Aluminum from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Wells Fargo & Company raised their price target on Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Zacks Research downgraded Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.00.

Century Aluminum Stock Performance

Shares of NASDAQ:CENX opened at $44.50 on Thursday. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 13.28 and a beta of 1.90. Century Aluminum Company has a 52 week low of $16.90 and a 52 week high of $70.43. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $60.39 and a 200 day moving average of $52.55.

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.