Intech Investment Management LLC Cuts Stock Holdings in Century Aluminum Company $CENX

Key Points

• Intech Investment Management LLC reduced its holdings in Century Aluminum Company by 31.1% during the first quarter, now owning 135,013 shares valued at $2,506,000.
• Equities analysts have given Century Aluminum mixed ratings; while B. Riley set a price target increase to $28.00, Wall Street Zen downgraded the stock from "buy" to "hold".
• The company's most recent earnings report showed a net margin of 4.94%, with earnings per share falling short of analyst expectations at ($0.05) compared to a consensus of $0.34.

Intech Investment Management LLC reduced its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 31.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,013 shares of the industrial products company's stock after selling 61,035 shares during the period. Intech Investment Management LLC owned about 0.14% of Century Aluminum worth $2,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in Century Aluminum in the first quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its holdings in Century Aluminum by 261.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company's stock worth $75,000 after purchasing an additional 2,909 shares during the period. GAMMA Investing LLC boosted its position in shares of Century Aluminum by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock worth $101,000 after acquiring an additional 628 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Century Aluminum by 177.6% during the 1st quarter. AlphaQuest LLC now owns 6,970 shares of the industrial products company's stock worth $129,000 after acquiring an additional 4,459 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in shares of Century Aluminum during the 4th quarter worth about $225,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CENX. B. Riley upped their target price on Century Aluminum from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Wall Street Zen downgraded Century Aluminum from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $25.67.

Insider Activity at Century Aluminum

In related news, SVP Matt Aboud sold 12,027 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the sale, the senior vice president owned 62,589 shares of the company's stock, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Century Aluminum Stock Up 2.5%

NASDAQ CENX traded up $0.67 during mid-day trading on Friday, reaching $27.57. 3,927,289 shares of the company's stock traded hands, compared to its average volume of 1,500,047. Century Aluminum Company has a 1-year low of $13.05 and a 1-year high of $28.43. The company has a fifty day simple moving average of $22.58 and a 200-day simple moving average of $19.25. The company has a current ratio of 1.75, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 23.77 and a beta of 2.55.

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

About Century Aluminum

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.