Century Aluminum Company $CENX Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Century Aluminum Company by 51.0%, selling 973,692 shares and holding 935,841 shares valued at approximately $17.37 million as of its latest filing.
• Century Aluminum reported a loss of ($0.05) earnings per share for the last quarter, missing analysts' expectations of $0.34, despite a revenue of $628.10 million, exceeding forecasted revenues.
• Analysts have a consensus rating of "Buy" for Century Aluminum, with an average price target of $24.67, reflecting varied ratings from banks like BMO Capital Markets and Zacks Research.

Invesco Ltd. decreased its holdings in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 51.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 935,841 shares of the industrial products company's stock after selling 973,692 shares during the period. Invesco Ltd. owned about 1.00% of Century Aluminum worth $17,369,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Century Aluminum by 13.1% during the first quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock valued at $101,000 after purchasing an additional 628 shares during the last quarter. Corton Capital Inc. bought a new stake in Century Aluminum during the fourth quarter valued at $189,000. Vise Technologies Inc. bought a new stake in Century Aluminum during the fourth quarter valued at $225,000. Dark Forest Capital Management LP increased its stake in Century Aluminum by 19.5% during the fourth quarter. Dark Forest Capital Management LP now owns 14,899 shares of the industrial products company's stock valued at $271,000 after purchasing an additional 2,430 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Century Aluminum by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 15,893 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 4,896 shares during the last quarter. Institutional investors own 61.59% of the company's stock.

Analyst Upgrades and Downgrades

CENX has been the subject of several recent research reports. BMO Capital Markets reiterated an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th. B. Riley upped their price target on shares of Century Aluminum from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Wall Street Zen lowered shares of Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat.com, Century Aluminum currently has an average rating of "Buy" and an average target price of $24.67.

Insiders Place Their Bets

In related news, SVP Matt Aboud sold 12,027 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the sale, the senior vice president owned 62,589 shares of the company's stock, valued at $1,456,446.03. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Century Aluminum Price Performance

CENX stock traded up $0.08 during trading on Monday, hitting $22.29. The company had a trading volume of 1,103,347 shares, compared to its average volume of 1,669,945. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.22 and a beta of 2.53. The business has a 50 day moving average of $20.43 and a 200 day moving average of $18.72. Century Aluminum Company has a fifty-two week low of $11.63 and a fifty-two week high of $25.39. 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 data on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.39). The company had revenue of $628.10 million during the quarter, compared to analyst estimates of $606.10 million. Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%. As a group, research analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current year.

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.