Century Aluminum Company $CENX Stock Holdings Lowered by Icon Advisers Inc. Co.

Key Points

• Icon Advisers Inc. Co. reduced its Century Aluminum stake by 28.4% in the first quarter, selling 68,800 shares and leaving it with 173,200 shares worth about $10.2 million.
• Other institutional investors were mixed: some, like Impala Asset Management and Allspring Global Investments, increased their positions, while hedge funds and institutions still own about 61.59% of the stock overall.
• Century Aluminum’s shares were trading at $45.33, below recent analyst targets, and Wall Street’s view is mixed with an average rating of Hold and an average price target of $76.

Icon Advisers Inc. Co. lowered its position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 28.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,200 shares of the industrial products company's stock after selling 68,800 shares during the period. Century Aluminum makes up approximately 2.3% of Icon Advisers Inc. Co.'s portfolio, making the stock its 4th largest position. Icon Advisers Inc. Co. owned approximately 0.18% of Century Aluminum worth $10,165,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Impala Asset Management LLC lifted its position in Century Aluminum by 13.7% in the 1st quarter. Impala Asset Management LLC now owns 975,000 shares of the industrial products company's stock valued at $57,223,000 after acquiring an additional 117,195 shares in the last quarter. Summit Global Investments boosted its stake in Century Aluminum by 3.2% during the 1st quarter. Summit Global Investments now owns 7,866 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 241 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Century Aluminum in the 1st quarter worth $29,000. KBC Group NV bought a new stake in shares of Century Aluminum in the 1st quarter worth $129,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Century Aluminum by 23.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 562,030 shares of the industrial products company's stock worth $35,695,000 after purchasing an additional 106,154 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Century Aluminum Price Performance

NASDAQ CENX opened at $45.33 on Thursday. The business's fifty day moving average price is $53.61 and its 200-day moving average price is $53.89. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 13.53 and a beta of 1.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.30 and a quick ratio of 1.36. Century Aluminum Company has a 1-year low of $20.21 and a 1-year high of $70.43.

Analysts Set New Price Targets

CENX has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Weiss Ratings lowered Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Wall Street Zen cut shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, B. Riley Financial dropped their price target on shares of Century Aluminum from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $76.00.

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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