Alberta Investment Management Corp Invests $4.92 Million in Century Aluminum Company (NASDAQ:CENX)

Key Points

• Alberta Investment Management Corp acquired a new position in Century Aluminum Company, purchasing 265,000 shares valued at approximately $4.92 million, representing about 0.28% ownership at the end of the last quarter.
• Several large institutional investors, including Glencore plc, have also increased their stakes in Century Aluminum, indicating growing interest from major stakeholders.
• A recent report from Wall Street Zen downgraded Century Aluminum from a "buy" to a "hold" rating following disappointing earnings results, where the company missed EPS estimates by $0.25.

Alberta Investment Management Corp purchased a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 265,000 shares of the industrial products company's stock, valued at approximately $4,918,000. Alberta Investment Management Corp owned about 0.28% of Century Aluminum as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CENX. Cambridge Investment Research Advisors Inc. increased its stake in shares of Century Aluminum by 60.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 41,622 shares of the industrial products company's stock valued at $773,000 after acquiring an additional 15,683 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Century Aluminum by 13.1% in the first quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock valued at $101,000 after buying an additional 628 shares during the period. Teacher Retirement System of Texas boosted its stake in Century Aluminum by 130.4% during the first quarter. Teacher Retirement System of Texas now owns 33,414 shares of the industrial products company's stock valued at $620,000 after buying an additional 18,909 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Century Aluminum by 21.3% during the first quarter. New York State Common Retirement Fund now owns 359,867 shares of the industrial products company's stock worth $6,679,000 after acquiring an additional 63,086 shares during the period. Finally, New York State Teachers Retirement System raised its position in Century Aluminum by 3.4% in the first quarter. New York State Teachers Retirement System now owns 94,135 shares of the industrial products company's stock worth $1,747,000 after acquiring an additional 3,067 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company's stock.

Century Aluminum Trading Up 2.2%

Shares of Century Aluminum stock traded up $0.46 on Wednesday, reaching $21.52. 484,966 shares of the company were exchanged, compared to its average volume of 1,682,055. Century Aluminum Company has a fifty-two week low of $11.63 and a fifty-two week high of $25.39. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 18.23 and a beta of 2.53. The company has a current ratio of 1.84, a quick ratio of 0.63 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $19.39 and a 200-day moving average price of $18.37.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.25). Century Aluminum had a return on equity of 19.06% and a net margin of 5.17%. The company had revenue of $633.90 million for the quarter, compared to analyst estimates of $643.80 million. On average, analysts expect that Century Aluminum Company will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.