Bank of New York Mellon Corp Buys New Shares in Century Aluminum Company $CENX

Bank of New York Mellon Corp purchased a new stake in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 403,628 shares of the industrial products company's stock, valued at approximately $18,571,000. Bank of New York Mellon Corp owned 0.41% of Century Aluminum as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its stake in Century Aluminum by 22.1% during the 1st quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company's stock worth $724,000 after acquiring an additional 7,051 shares during the period. Jones Financial Companies Lllp purchased a new stake in Century Aluminum in the 1st quarter worth $25,000. Empowered Funds LLC increased its stake in Century Aluminum by 1.8% in the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company's stock worth $1,098,000 after buying an additional 1,069 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Century Aluminum by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company's stock valued at $2,301,000 after acquiring an additional 21,702 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Century Aluminum by 7.1% during the second quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company's stock valued at $2,650,000 after acquiring an additional 9,721 shares during the period. Hedge funds and other institutional investors own 61.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CENX shares. Zacks Research lowered Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. B. Riley Financial reissued a "buy" rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Wall Street Zen cut Century Aluminum from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. Weiss Ratings downgraded Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company increased their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $72.00.

Century Aluminum Stock Down 1.8%

NASDAQ CENX opened at $45.77 on Tuesday. The stock has a 50 day moving average price of $45.51 and a 200-day moving average price of $53.65. Century Aluminum Company has a one year low of $20.91 and a one year high of $70.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The company has a market capitalization of $4.53 billion, a P/E ratio of 7.91 and a beta of 1.96.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. The company had revenue of $752.10 million for the quarter, compared to analysts' expectations of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The business's quarterly revenue was up 59.0% compared to the same quarter last year. As a group, equities analysts predict that Century Aluminum Company will post 7.75 EPS for the current fiscal 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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