Principal Financial Group Inc. Has $15.28 Million Stock Position in Century Aluminum Company $CENX

Key Points

• Principal Financial Group Inc. cut its Century Aluminum stake by 35% in Q1, selling 140,211 shares and ending with 260,426 shares valued at about $15.28 million.
• Institutional ownership in Century Aluminum remains significant, with several smaller funds opening or adding positions and institutions collectively owning 61.59% of the stock.
• Analyst sentiment is mixed: Wells Fargo and BMO remain bullish, but recent downgrades left Century Aluminum with an average “Hold” rating and a consensus price target of $76.

Principal Financial Group Inc. lowered its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,426 shares of the industrial products company's stock after selling 140,211 shares during the period. Principal Financial Group Inc. owned about 0.26% of Century Aluminum worth $15,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp bought a new position in shares of Century Aluminum in the 1st quarter valued at about $25,000. Private Trust Co. NA bought a new stake in Century Aluminum during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company's stock worth $33,000 after acquiring an additional 1,306 shares in the last quarter. Advisory Services Network LLC acquired a new position in Century Aluminum during the third quarter valued at approximately $34,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Century Aluminum during the fourth quarter valued at approximately $40,000. 61.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CENX shares. Wells Fargo & Company boosted their price target on Century Aluminum from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. BMO Capital Markets set a $75.00 price objective on shares of Century Aluminum and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Wall Street Zen lowered Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Weiss Ratings cut shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday. Finally, B. Riley Financial decreased their target price on Century Aluminum from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Century Aluminum currently has an average rating of "Hold" and an average price target of $76.00.

Century Aluminum Trading Up 2.3%

Shares of CENX opened at $46.36 on Friday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 13.84 and a beta of 1.96. 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 Company has a 52-week low of $20.21 and a 52-week high of $70.43. The business's fifty day moving average is $53.31 and its 200-day moving average is $53.92.

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.

Want to see what other hedge funds are holding CENX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Century Aluminum Company (NASDAQ:CENX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.