Northwestern Mutual Wealth Management Co. Grows Holdings in Century Aluminum Company $CENX

Key Points

• Northwestern Mutual Wealth Management dramatically increased its Century Aluminum stake in Q4, buying 101,301 more shares and lifting holdings to 102,101 shares worth about $4.1 million.
• Century Aluminum posted Q4 EPS of $1.25, matching analyst expectations, while revenue came in at $633.7 million, slightly below estimates but up 0.4% year over year.
• Wall Street sentiment remains positive, with an average Buy rating and a consensus price target of $80; several analysts recently raised targets, even as insiders sold shares over the past 90 days.

Northwestern Mutual Wealth Management Co. lifted its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 12,662.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,101 shares of the industrial products company's stock after buying an additional 101,301 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.11% of Century Aluminum worth $4,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Convergence Investment Partners LLC purchased a new stake in shares of Century Aluminum in the 3rd quarter worth about $942,000. Principal Financial Group Inc. grew its position in shares of Century Aluminum by 35.4% in the 3rd quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company's stock worth $10,301,000 after buying an additional 91,647 shares during the period. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Century Aluminum in the 4th quarter worth about $12,278,000. Glencore plc grew its position in shares of Century Aluminum by 33.6% in the 4th quarter. Glencore plc now owns 53,511,894 shares of the industrial products company's stock worth $2,096,596,000 after buying an additional 13,454,538 shares during the period. Finally, SummerHaven Investment Management LLC purchased a new stake in shares of Century Aluminum in the 3rd quarter worth about $1,277,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

Century Aluminum Stock Performance

Shares of CENX stock opened at $65.05 on Monday. Century Aluminum Company has a one year low of $15.13 and a one year high of $68.69. The company's 50-day moving average is $59.42 and its 200 day moving average is $47.61. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 19.42 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a net margin of 13.75% and a return on equity of 13.59%. The company had revenue of $633.70 million for the quarter, compared to the consensus estimate of $661.63 million. During the same period in the prior year, the firm posted $0.49 EPS. Century Aluminum's revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Century Aluminum Company will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets set a $75.00 target price on shares of Century Aluminum and gave the stock an "outperform" rating in a research report on Thursday, April 9th. B. Riley Financial upped their target price on shares of Century Aluminum from $68.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Century Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Century Aluminum from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, Century Aluminum currently has an average rating of "Buy" and a consensus price target of $80.00.

Insider Activity at Century Aluminum

In related news, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matt Aboud sold 2,971 shares of the stock in a transaction dated 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 directly owned 64,843 shares in the company, valued at $3,415,280.81. This trade represents a 4.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 185,626 shares of company stock valued at $10,271,891. 0.84% of the stock is owned by insiders.

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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