Fisher Asset Management LLC Sells 99,631 Shares of Century Aluminum Company $CENX

Key Points

• Fisher Asset Management trimmed its Century Aluminum stake by 10.3% in the fourth quarter, selling 99,631 shares and leaving it with 866,944 shares worth about $34 million.
• Several other institutional investors also increased their holdings, while institutions still own 61.59% of Century Aluminum’s stock, indicating broad professional ownership.
• Wall Street sentiment remains positive: multiple analysts raised ratings or price targets, and the stock was recently trading near $66.88 with a consensus Buy rating and average target price of $80.

Fisher Asset Management LLC lessened its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 866,944 shares of the industrial products company's stock after selling 99,631 shares during the period. Fisher Asset Management LLC owned about 0.93% of Century Aluminum worth $33,967,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Glencore plc lifted its stake in shares of Century Aluminum by 33.6% in the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company's stock valued at $2,096,596,000 after buying an additional 13,454,538 shares during the period. Vanguard Group Inc. lifted its stake in shares of Century Aluminum by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company's stock valued at $271,901,000 after buying an additional 1,094,257 shares during the period. State Street Corp lifted its stake in shares of Century Aluminum by 13.2% in the second quarter. State Street Corp now owns 3,665,546 shares of the industrial products company's stock valued at $66,053,000 after buying an additional 426,306 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Century Aluminum by 2.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,457,401 shares of the industrial products company's stock valued at $42,789,000 after buying an additional 27,999 shares during the period. Finally, Sourcerock Group LLC lifted its stake in shares of Century Aluminum by 612.0% in the second quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company's stock valued at $25,662,000 after buying an additional 1,224,088 shares during the period. Institutional investors own 61.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CENX shares. B. Riley Financial increased their target price on shares of Century Aluminum from $68.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of Century Aluminum from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. Wells Fargo & Company raised their price target on shares of Century Aluminum from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Century Aluminum from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, Century Aluminum has a consensus rating of "Buy" and an average target price of $80.00.

Century Aluminum Stock Up 2.8%

Shares of CENX opened at $66.88 on Wednesday. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 19.96 and a beta of 1.91. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37. Century Aluminum Company has a 12 month low of $15.13 and a 12 month high of $68.69. The company has a 50-day moving average price of $59.81 and a two-hundred day moving average price of $48.14.

Insiders Place Their Bets

In other Century Aluminum news, SVP Matt Aboud sold 12,126 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $52.50, for a total transaction of $636,615.00. Following the completion of the transaction, the senior vice president owned 67,814 shares in the company, valued at $3,560,235. This trade represents a 15.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse E. Gary sold 150,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 142,580 shares of the company's stock, valued at approximately $7,908,912.60. This represents a 51.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 185,626 shares of company stock worth $10,271,891 over the last quarter. Company insiders own 0.84% of the company's stock.

About Century Aluminum

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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