Century Aluminum Company $CENX Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its Century Aluminum stake by 45% in the second quarter, adding 170,451 shares to own 548,898 shares, or approximately 0.55% of the company. Institutional investors collectively hold 61.59% of CENX.
• Analyst sentiment is mixed but leans positive: Century Aluminum has a consensus rating of “Moderate Buy” and an average price target of $72, despite recent upgrades, downgrades, and a $60 target from UBS.
• CENX was trading at $46.78, with shares down 1.5%. The company beat quarterly earnings expectations with $2.46 in EPS versus $2.33 expected, while revenue rose 59% year over year to $752.1 million but fell short of estimates.

Wellington Management Group LLP increased its stake in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 45.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 548,898 shares of the industrial products company's stock after buying an additional 170,451 shares during the quarter. Wellington Management Group LLP owned about 0.55% of Century Aluminum worth $25,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in shares of Century Aluminum in the 1st quarter worth $25,000. Hollencrest Capital Management acquired a new position in shares of Century Aluminum during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Century Aluminum by 253.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 1,306 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Century Aluminum in the third quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Century Aluminum in the second quarter valued at about $37,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Analysts Set New Price Targets

CENX has been the topic of a number of analyst reports. 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 restated a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. UBS Group assumed coverage on Century Aluminum in a report on Monday, August 10th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Zacks Research cut 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Century Aluminum currently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Century Aluminum Trading Down 1.5%

NASDAQ CENX opened at $46.78 on Friday. The firm's 50-day moving average is $45.59 and its two-hundred day moving average is $53.54. Century Aluminum Company has a 12 month low of $21.48 and a 12 month high of $70.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The stock has a market capitalization of $4.63 billion, a P/E ratio of 8.08 and a beta of 1.99.

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, beating analysts' consensus estimates of $2.33 by $0.13. The business had revenue of $752.10 million during 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%. Century Aluminum's quarterly revenue was up 59.0% on a year-over-year basis. On average, sell-side analysts anticipate that Century Aluminum Company will post 7.75 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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