Century Aluminum Company $CENX Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System reduced its Century Aluminum stake by 29.6% in the first quarter, selling 23,987 shares and leaving it with 57,184 shares worth about $3.36 million.
• Institutional ownership in Century Aluminum remains high at 61.59%, with several major funds adjusting positions, including notable increases from Glencore, Vanguard, Assenagon Asset Management, and Sourcerock Group.
• CENX shares were trading around $45.11, and analysts currently rate the stock a Moderate Buy with an average target price of $76.00.

New York State Teachers Retirement System cut its position in Century Aluminum Company (NASDAQ:CENX - Free Report) by 29.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,184 shares of the industrial products company's stock after selling 23,987 shares during the period. New York State Teachers Retirement System owned 0.06% of Century Aluminum worth $3,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Glencore plc grew its stake in shares of Century Aluminum by 33.6% during the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company's stock worth $2,096,596,000 after purchasing an additional 13,454,538 shares in the last quarter. Sourcerock Group LLC lifted its holdings in Century Aluminum by 612.0% during the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company's stock worth $25,662,000 after buying an additional 1,224,088 shares during the last quarter. Vanguard Group Inc. boosted its position 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 acquiring an additional 1,094,257 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Century Aluminum by 109.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company's stock worth $107,422,000 after acquiring an additional 957,571 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Century Aluminum in the 2nd quarter valued at about $9,399,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Trading Up 0.8%

Shares of CENX stock opened at $45.11 on Friday. The company has a market capitalization of $4.46 billion, a P/E ratio of 13.47 and a beta of 1.96. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The business's 50 day moving average is $56.68 and its two-hundred day moving average is $53.57. Century Aluminum Company has a twelve month low of $18.86 and a twelve month high of $70.43.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CENX. Wall Street Zen cut Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Weiss Ratings lowered Century Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. BMO Capital Markets set a $75.00 target price on Century Aluminum and gave the stock an "outperform" rating in a research report on Thursday, April 9th. Wells Fargo & Company lifted their target price on Century Aluminum from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Zacks Research downgraded Century Aluminum from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $76.00.

Century Aluminum Company 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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