Nuveen LLC Invests $14.73 Million in Century Aluminum Company $CENX

Key Points

• Nuveen LLC acquired 793,413 shares of Century Aluminum Company, worth approximately $14.7 million, marking a 0.85% ownership stake in the company.
• Multiple large investors, including Alberta Investment Management Corp and Monaco Asset Management, have also established new positions in Century Aluminum, indicating increased institutional interest.
• Century Aluminum reported a loss of $0.05 per share in its latest quarterly earnings, falling short of analysts' expectations, despite revenues surpassing estimates at $628.1 million.

Nuveen LLC bought a new stake in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 793,413 shares of the industrial products company's stock, valued at approximately $14,726,000. Nuveen LLC owned approximately 0.85% of Century Aluminum at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CENX. GAMMA Investing LLC grew its stake in Century Aluminum by 13.1% during the 1st 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. purchased a new position in Century Aluminum during the 4th quarter valued at about $189,000. Vise Technologies Inc. purchased a new position in Century Aluminum during the 4th quarter valued at about $225,000. Dark Forest Capital Management LP lifted its holdings in shares of Century Aluminum by 19.5% during the 4th quarter. Dark Forest Capital Management LP now owns 14,899 shares of the industrial products company's stock valued at $271,000 after buying an additional 2,430 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Century Aluminum by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 15,893 shares of the industrial products company's stock valued at $290,000 after buying an additional 4,896 shares during the last quarter. Hedge funds and other institutional investors own 61.59% of the company's stock.

Insiders Place Their Bets

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 in the company, valued at $1,456,446.03. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Wall Street Zen lowered Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. B. Riley lifted their price target on Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Century Aluminum in a 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 stock. According to data from MarketBeat.com, Century Aluminum currently has an average rating of "Buy" and a consensus price target of $24.67.

Century Aluminum Stock Performance

CENX traded up $0.15 on Tuesday, hitting $22.44. The company had a trading volume of 1,270,280 shares, compared to its average volume of 1,482,354. The company's fifty day moving average price is $20.60 and its 200 day moving average price is $18.77. Century Aluminum Company has a 1-year low of $11.63 and a 1-year high of $25.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.75 and a quick ratio of 0.61. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 19.34 and a beta of 2.53.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted 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). Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The company had revenue of $628.10 million during the quarter, compared to analyst estimates of $606.10 million. Equities analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current fiscal 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.