Cetera Investment Advisers Acquires 36,469 Shares of Century Aluminum Company $CENX

Key Points

• Cetera Investment Advisers increased its Century Aluminum stake by 510.6% in the first quarter, acquiring 36,469 additional shares for a total holding of 43,612 shares valued at $2.56 million. Institutional investors own 61.59% of CENX.
• Analyst sentiment is mixed: three analysts rate the stock Buy, one Hold and one Sell, producing a consensus Hold rating and an average price target of $76.00. Recent target changes included B. Riley lowering its target to $74 and Wells Fargo raising its target to $79.
• Century Aluminum reported quarterly EPS of $2.46, 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 estimate. Shares opened at $51.23, within a 52-week range of $20.91 to $70.43.

Cetera Investment Advisers lifted its holdings in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 510.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,612 shares of the industrial products company's stock after acquiring an additional 36,469 shares during the quarter. Cetera Investment Advisers' holdings in Century Aluminum were worth $2,560,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in Century Aluminum during the 1st quarter valued at about $25,000. Private Trust Co. NA bought a new position in shares of Century Aluminum during the 4th quarter valued at $28,000. Hollencrest Capital Management bought a new position in Century Aluminum in the 1st quarter worth $29,000. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 1,306 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Century Aluminum in the third quarter worth $34,000. 61.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Zacks Research cut shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. B. Riley Financial reduced their price objective on shares of Century Aluminum from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. 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. Finally, Wells Fargo & Company boosted their target price on Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $76.00.

Century Aluminum Price Performance

Shares of CENX stock opened at $51.23 on Friday. Century Aluminum Company has a twelve month low of $20.91 and a twelve month high of $70.43. 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 stock has a fifty day simple moving average of $49.67 and a two-hundred day simple moving average of $53.89. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 8.85 and a beta of 1.96.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 38.74% and a net margin of 22.63%.The business had revenue of $752.10 million for the quarter, compared to the consensus estimate of $817.15 million. Century Aluminum's quarterly revenue was up 59.0% compared to the same quarter last year. On average, analysts predict that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

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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