OMERS ADMINISTRATION Corp Acquires Shares of 35,000 Century Aluminum Company $CENX

Key Points

• OMERS Administration Corp. acquired 35,000 shares of Century Aluminum in the second quarter, valued at approximately $1.61 million. Hedge funds and institutional investors collectively own 61.59% of the company.
• Century Aluminum reported quarterly EPS of $2.46, exceeding the $2.33 analyst consensus, while revenue rose 59% year over year to $752.1 million but fell short of expectations.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and a $72 average price target; shares recently opened at $43.95.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,000 shares of the industrial products company's stock, valued at approximately $1,610,000.

Several other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Century Aluminum in the 1st quarter worth $29,000. Summit Securities Group LLC acquired a new stake in shares of Century Aluminum during the first quarter worth $42,000. Strs Ohio purchased a new stake in Century Aluminum during the 1st quarter valued at about $47,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Century Aluminum in the second quarter valued at approximately $37,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Century Aluminum in the fourth quarter worth $40,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Century Aluminum Stock Performance

Shares of CENX stock opened at $43.95 on Thursday. The company has a market capitalization of $4.35 billion, a P/E ratio of 7.59 and a beta of 1.96. The business's 50 day moving average is $45.80 and its two-hundred day moving average is $53.79. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31. Century Aluminum Company has a 12-month low of $20.91 and a 12-month high of $70.43.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The business had revenue of $752.10 million during the quarter, compared to analysts' expectations of $817.15 million. Century Aluminum's revenue for the quarter was up 59.0% compared to the same quarter last year. Analysts expect that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. B. Riley Financial reissued a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Wells Fargo & Company upped their price objective on Century Aluminum from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Zacks Research lowered shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Weiss Ratings cut shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. Finally, UBS Group assumed coverage on shares of Century Aluminum in a report on Monday, August 10th. They set a "buy" rating and a $60.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Century Aluminum has an average rating of "Moderate Buy" and a consensus price target of $72.00.

About Century Aluminum

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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