First Eagle Investment Management LLC Sells 38,541 Shares of Century Aluminum Company $CENX

Key Points

• First Eagle Investment Management reduced its stake in Century Aluminum by 11.3% in the fourth quarter, selling 38,541 shares and leaving it with 301,612 shares worth about $11.8 million.
• Century Aluminum shares were up 5.1% to $63.27, near their 52-week high of $68.69, with the stock trading above both its 50-day and 200-day moving averages.
• Analysts remain bullish on the company: Century Aluminum recently met EPS expectations, and the stock carries a consensus Buy rating with an average price target of $80.00.

First Eagle Investment Management LLC lowered its holdings in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 11.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 301,612 shares of the industrial products company's stock after selling 38,541 shares during the period. First Eagle Investment Management LLC owned 0.32% of Century Aluminum worth $11,817,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Convergence Investment Partners LLC bought a new position in Century Aluminum during the third quarter worth about $942,000. Campbell & CO Investment Adviser LLC lifted its position in Century Aluminum by 620.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company's stock worth $4,203,000 after acquiring an additional 123,285 shares during the last quarter. Principal Financial Group Inc. lifted its position in Century Aluminum by 35.4% during the third quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company's stock worth $10,301,000 after acquiring an additional 91,647 shares during the last quarter. Glencore plc lifted its position in Century Aluminum by 33.6% during the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company's stock worth $2,096,596,000 after acquiring an additional 13,454,538 shares during the last quarter. Finally, Drummond Knight Asset Management Pty Ltd acquired a new stake in Century Aluminum during the fourth quarter worth approximately $12,278,000. Institutional investors own 61.59% of the company's stock.

Century Aluminum Stock Up 5.1%

Shares of CENX opened at $63.27 on Wednesday. The firm has a 50 day simple moving average of $58.44 and a two-hundred day simple moving average of $45.91. The company has a market cap of $6.26 billion, a P/E ratio of 18.89 and a beta of 1.91. Century Aluminum Company has a one year low of $15.13 and a one year high of $68.69. 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 (NASDAQ:CENX - Get Free Report) last posted its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share for the quarter, hitting analysts' consensus estimates of $1.25. The firm had revenue of $633.70 million for the quarter, compared to analysts' expectations of $661.63 million. Century Aluminum had a net margin of 13.75% and a return on equity of 13.59%. The company's revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Research analysts forecast that Century Aluminum Company will post 10.3 EPS for the current fiscal year.

Insider Activity at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 2,971 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.67, for a total transaction of $156,482.57. Following the sale, the senior vice president owned 64,843 shares of the company's stock, valued at approximately $3,415,280.81. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse E. Gary sold 150,000 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the completion of the sale, the chief executive officer directly owned 142,580 shares in the company, valued at approximately $7,908,912.60. This represents a 51.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 251,626 shares of company stock worth $13,619,411. Corporate insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of Century Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the company an "outperform" rating in a research report on Thursday, April 9th. B. Riley Financial lifted their price target on shares of Century Aluminum from $68.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of Century Aluminum from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Century Aluminum currently has a consensus rating of "Buy" and an average target price of $80.00.

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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