Russell Investments Group Ltd. Grows Position in Century Aluminum Company $CENX

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Century Aluminum by 157.4%, owning 129,375 shares worth approximately $2.4 million at the end of the first quarter.
• Brokerages have a generally positive outlook on Century Aluminum with ratings that include a "strong-buy" from Zacks Research and a price target increase from B. Riley from $24.00 to $25.00.
• Century Aluminum's recent earnings report revealed a loss of ($0.05) per share, missing analysts' expectations despite revenue exceeding estimates at $628.1 million.

Russell Investments Group Ltd. boosted its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 157.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,375 shares of the industrial products company's stock after purchasing an additional 79,118 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Century Aluminum worth $2,401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CENX. Barclays PLC lifted its position in shares of Century Aluminum by 2.6% during the 4th quarter. Barclays PLC now owns 99,918 shares of the industrial products company's stock valued at $1,820,000 after buying an additional 2,522 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Century Aluminum during the 4th quarter valued at $313,000. First Trust Advisors LP lifted its holdings in Century Aluminum by 5.0% during the 4th quarter. First Trust Advisors LP now owns 192,465 shares of the industrial products company's stock worth $3,507,000 after purchasing an additional 9,146 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Century Aluminum by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,937,970 shares of the industrial products company's stock worth $53,531,000 after purchasing an additional 28,557 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Century Aluminum by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 31,907 shares of the industrial products company's stock worth $581,000 after purchasing an additional 2,549 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company's stock.

Insiders Place Their Bets

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the sale, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.76% of the company's stock.

Century Aluminum Trading Down 1.4%

CENX stock traded down $0.32 during trading on Thursday, hitting $22.38. 1,421,329 shares of the company traded hands, compared to its average volume of 1,459,868. The firm has a market capitalization of $2.09 billion, a PE ratio of 19.29 and a beta of 2.53. Century Aluminum Company has a 1 year low of $11.63 and a 1 year high of $25.39. The company has a 50-day moving average of $20.81 and a 200-day moving average of $18.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.75.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.39). Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The company had revenue of $628.10 million for the quarter, compared to analysts' expectations of $606.10 million. Analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. B. Riley upped their target price on Century Aluminum from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wall Street Zen lowered Century Aluminum from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. BMO Capital Markets restated an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th. Finally, Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $24.67.

About Century Aluminum

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.