American Century Companies Inc. Has $22.54 Million Stock Holdings in Century Aluminum Company $CENX

Key Points

• American Century increased its stake in Century Aluminum (NASDAQ:CENX) by 392.3% in Q3 to 767,692 shares (about $22.54 million), and institutional investors now own approximately 61.59% of the company.
• Company insiders have been net sellers recently: EVP John Dezee sold 66,000 shares and SVP Matt Aboud sold 12,126 shares, with insiders disposing of 241,097 shares worth $11.93 million over the past 90 days (insiders hold 0.68%).
• Analysts are largely bullish on CENX with a consensus Buy rating and a $54.33 target; several firms raised targets or ratings (e.g., B. Riley to $68, Wells Fargo to $61, Zacks to Strong‑Buy) while the stock trades near $54.45.

American Century Companies Inc. grew its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 392.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 767,692 shares of the industrial products company's stock after purchasing an additional 611,758 shares during the period. American Century Companies Inc. owned approximately 0.82% of Century Aluminum worth $22,539,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in Century Aluminum during the second quarter worth about $641,000. Convergence Investment Partners LLC acquired a new stake in shares of Century Aluminum in the 3rd quarter valued at approximately $942,000. New Century Financial Group LLC bought a new stake in shares of Century Aluminum during the 3rd quarter valued at approximately $987,000. Campbell & CO Investment Adviser LLC grew its holdings in shares of Century Aluminum by 620.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company's stock valued at $4,203,000 after purchasing an additional 123,285 shares during the last quarter. Finally, SummerHaven Investment Management LLC acquired a new position in Century Aluminum during the 3rd quarter worth approximately $1,277,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Insiders Place Their Bets

In related news, EVP John Dezee sold 66,000 shares of the company's stock in a transaction dated 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 in the company, valued at $4,952,655.84. This represents a 40.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matt Aboud sold 12,126 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $52.50, for a total value of $636,615.00. Following the transaction, the senior vice president owned 67,814 shares in the company, valued at $3,560,235. The trade was a 15.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 241,097 shares of company stock valued at $11,932,418 over the last 90 days. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Century Aluminum in a research report on Wednesday, January 21st. B. Riley Financial increased their price target on Century Aluminum from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. Wells Fargo & Company boosted their price objective on Century Aluminum from $46.00 to $61.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 13th. Finally, Wall Street Zen raised Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $54.33.

Century Aluminum Stock Up 1.4%

Shares of NASDAQ CENX opened at $54.45 on Tuesday. The company's 50 day moving average price is $48.46 and its 200-day moving average price is $35.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. Century Aluminum Company has a 52-week low of $13.05 and a 52-week high of $56.96. The company has a market capitalization of $5.39 billion, a P/E ratio of 136.13 and a beta of 2.16.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share for the quarter, hitting the consensus estimate of $1.25. The company had revenue of $633.70 million during the quarter, compared to analysts' expectations of $661.63 million. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. Century Aluminum's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. Equities analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current year.

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.

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