Canada Pension Plan Investment Board Purchases Shares of 365,400 Century Aluminum Company $CENX

Key Points

• Canada Pension Plan Investment Board acquired 365,400 Century Aluminum shares worth approximately $16.8 million, giving it a 0.37% stake. Institutional investors collectively own 61.59% of the company.
• Century Aluminum reported quarterly earnings of $2.46 per share, beating estimates of $2.33, while revenue rose 59% year over year to $752.1 million but fell short of the $817.15 million consensus.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and a $72 target price, although ratings range from “Strong Sell” to “Buy.” Shares opened at $46.59, up 1.5%.

Canada Pension Plan Investment Board acquired a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 365,400 shares of the industrial products company's stock, valued at approximately $16,812,000. Canada Pension Plan Investment Board owned approximately 0.37% of Century Aluminum at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers boosted its holdings in shares of Century Aluminum by 510.6% in the 1st quarter. Cetera Investment Advisers now owns 43,612 shares of the industrial products company's stock valued at $2,560,000 after purchasing an additional 36,469 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Century Aluminum by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company's stock worth $271,901,000 after buying an additional 1,094,257 shares in the last quarter. Sigma Planning Corp bought a new stake in shares of Century Aluminum during the 4th quarter worth $1,249,000. Kailix Advisors LLC bought a new stake in shares of Century Aluminum during the 4th quarter worth $5,742,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in Century Aluminum in the fourth quarter valued at about $899,000. Hedge funds and other institutional investors own 61.59% of the company's stock.

Century Aluminum Trading Up 1.5%

Shares of CENX stock opened at $46.59 on Friday. Century Aluminum Company has a twelve month low of $20.91 and a twelve month high of $70.43. The stock's fifty day simple moving average is $45.58 and its 200 day simple moving average is $53.69. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.61 billion, a P/E ratio of 8.05 and a beta of 1.96.

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

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group began coverage on Century Aluminum in a research note on Monday, August 10th. They set a "buy" rating and a $60.00 target price for the company. Weiss Ratings downgraded shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. B. Riley Financial reaffirmed a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Wall Street Zen cut shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Zacks Research downgraded shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

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.

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