Covestor Ltd Reduces Holdings in Century Aluminum Company (NASDAQ:CENX)

Key Points

• Covestor Ltd significantly reduced its holdings in Century Aluminum Company by 82.7%, owning only 3,388 shares worth $63,000 after selling 16,147 shares in the first quarter.
• Numerous hedge funds made adjustments to their Century Aluminum positions, with Bridgewater Associates LP increasing its stake by 74.3%, now holding 431,279 shares valued at $7.86 million.
• Century Aluminum's recent earnings report showed a loss of ($0.05) EPS, falling short of analysts' expectations, despite revenue of $628.10 million beating estimates of $606.10 million.

Covestor Ltd decreased its position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 82.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,388 shares of the industrial products company's stock after selling 16,147 shares during the quarter. Covestor Ltd's holdings in Century Aluminum were worth $63,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Century Aluminum by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 103,577 shares of the industrial products company's stock worth $1,887,000 after buying an additional 3,580 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Century Aluminum during the fourth quarter worth about $503,000. Barclays PLC grew its holdings in shares of Century Aluminum by 2.6% during the fourth quarter. Barclays PLC now owns 99,918 shares of the industrial products company's stock worth $1,820,000 after buying an additional 2,522 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Century Aluminum during the fourth quarter worth about $333,000. Finally, Bridgewater Associates LP grew its holdings in shares of Century Aluminum by 74.3% during the fourth quarter. Bridgewater Associates LP now owns 431,279 shares of the industrial products company's stock worth $7,858,000 after buying an additional 183,875 shares during the last quarter. Hedge funds and other institutional investors own 61.59% of the company's stock.

Century Aluminum Price Performance

Shares of CENX opened at $23.82 on Thursday. Century Aluminum Company has a twelve month low of $11.63 and a twelve month high of $25.39. The stock's 50 day moving average is $20.02 and its two-hundred day moving average is $18.50. The firm has a market capitalization of $2.22 billion, a PE ratio of 20.53 and a beta of 2.53. The company has a current ratio of 1.75, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The company had revenue of $628.10 million for the quarter, compared to analyst estimates of $606.10 million. Research analysts anticipate that Century Aluminum Company will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Century Aluminum in a report on Friday, August 8th. B. Riley lifted their price objective on Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen lowered Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.

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