Congress Asset Management Co. Grows Stock Position in Century Aluminum Company $CENX

Key Points

• Congress Asset Management increased its Century Aluminum stake by 21.6% in the third quarter, adding 55,241 shares to own 310,877 shares valued at approximately $11.2 million. Institutional investors collectively own 61.59% of CENX.
• Analyst sentiment is broadly positive but mixed: four analysts rate the stock Buy, one rates it Hold, and one rates it Sell. MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $72.
• 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 expectations. The stock opened at $37.18, well below its 52-week high of $70.43.

Congress Asset Management Co. lifted its position in Century Aluminum Company (NASDAQ:CENX - Free Report) by 21.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 310,877 shares of the industrial products company's stock after acquiring an additional 55,241 shares during the quarter. Congress Asset Management Co. owned 0.31% of Century Aluminum worth $11,185,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CENX. Hollencrest Capital Management bought a new stake in Century Aluminum during the first quarter valued at $29,000. Summit Securities Group LLC acquired a new position in shares of Century Aluminum in the 1st quarter valued at about $42,000. Strs Ohio acquired a new position in shares of Century Aluminum in the 1st quarter valued at about $47,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Century Aluminum during the 2nd quarter valued at about $37,000. Finally, Leonteq Securities AG bought a new stake in shares of Century Aluminum during the 1st quarter valued at about $67,000. 61.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CENX. Weiss Ratings cut shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. B. Riley Financial reaffirmed a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Zacks Research cut Century Aluminum from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Wells Fargo & Company cut their price target on Century Aluminum from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. Finally, UBS Group assumed coverage on Century Aluminum in a research report on Monday, August 10th. They set a "buy" rating and a $60.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.00.

Century Aluminum Trading Up 0.6%

Century Aluminum stock opened at $37.18 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $43.54 and a two-hundred day moving average price of $51.51. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 6.42 and a beta of 2.07. Century Aluminum Company has a 52-week low of $25.40 and a 52-week high of $70.43.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.33 by $0.13. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The firm had revenue of $752.10 million during the quarter, compared to analysts' expectations of $817.15 million. The business's revenue for the quarter was up 59.0% on a year-over-year basis. Sell-side analysts expect that Century Aluminum Company will post 7.75 earnings per share for the current year.

Century Aluminum Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum reduction facilities that convert alumina into aluminum metal through the electrolytic smelting process. Its products include standard-grade and value-added primary aluminum, which is supplied to manufacturers and other industrial customers.

Century Aluminum serves markets such as automotive, aerospace, construction, packaging and consumer products. Its operations have included facilities in the United States and Iceland, including smelters in Kentucky, South Carolina and at Grundartangi, Iceland.

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