Empowered Funds LLC Decreases Holdings in Century Aluminum Company $CENX

Key Points

• Empowered Funds LLC cut its Century Aluminum stake by 83.4% in the first quarter, selling 34,680 shares and retaining 6,880 shares valued at approximately $404,000.
• Institutional ownership remains significant at 61.59%, with AQR Capital, UBS Asset Management, JPMorgan Chase and EverSource Wealth Advisors among the firms increasing their positions.
• Century Aluminum exceeded quarterly earnings expectations with EPS of $2.46 versus $2.33 forecast, while revenue rose 59% year over year but fell short of estimates; analysts maintain a “Moderate Buy” consensus with a $72 average price target.

Empowered Funds LLC reduced its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 83.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,880 shares of the industrial products company's stock after selling 34,680 shares during the period. Empowered Funds LLC's holdings in Century Aluminum were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in shares of Century Aluminum by 22.1% in the first quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company's stock worth $724,000 after buying an additional 7,051 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum during the 1st quarter valued at about $25,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Century Aluminum by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company's stock worth $2,301,000 after acquiring an additional 21,702 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Century Aluminum by 7.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company's stock worth $2,650,000 after acquiring an additional 9,721 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company's stock worth $33,000 after acquiring an additional 1,306 shares during the period. 61.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Zacks Research lowered shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Weiss Ratings lowered shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. 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 research note on Tuesday, July 7th. Wall Street Zen lowered shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. Finally, Wells Fargo & Company upped their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.00.

Century Aluminum Stock Performance

Shares of CENX opened at $52.29 on Wednesday. The business's 50 day moving average is $49.10 and its two-hundred day moving average is $53.99. Century Aluminum Company has a 52-week low of $20.91 and a 52-week high of $70.43. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 9.03 and a beta of 1.96. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.13. The business had revenue of $752.10 million during the quarter, compared to the consensus estimate of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The company's revenue was up 59.0% compared to the same quarter last year. Analysts forecast that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

Century Aluminum 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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