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. cut its position in Century Aluminum Company (NASDAQ:CENX - Free Report) by 51.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 935,841 shares of the industrial products company's stock after selling 973,692 shares during the quarter. Invesco Ltd. owned approximately 1.00% of Century Aluminum worth $17,369,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 628 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Century Aluminum during the fourth quarter valued at about $189,000. Vise Technologies Inc. acquired a new position in shares of Century Aluminum during the fourth quarter valued at about $225,000. Dark Forest Capital Management LP increased its holdings in shares of 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 acquiring an additional 2,430 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of 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 acquiring an additional 4,896 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Stock Performance

Century Aluminum stock traded up $0.26 during mid-day trading on Wednesday, hitting $22.70. The company had a trading volume of 1,261,162 shares, compared to its average volume of 1,486,313. 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 Company has a 12-month low of $11.63 and a 12-month high of $25.39. The company's fifty day moving average is $20.71 and its 200-day moving average is $18.80. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 19.57 and a beta of 2.53.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its earnings results 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 business had revenue of $628.10 million for 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%. Equities research analysts predict that Century Aluminum Company will post 2.76 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Century Aluminum

In other news, SVP Matt Aboud sold 12,027 shares of the company'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 transaction of $279,868.29. Following the completion of the transaction, the senior vice president directly owned 62,589 shares of the company's stock, valued at $1,456,446.03. This represents a 16.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by insiders.

Century Aluminum 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.