Sourcerock Group LLC Cuts Stock Holdings in Century Aluminum (NASDAQ:CENX)

Sourcerock Group LLC reduced its holdings in shares of Century Aluminum (NASDAQ:CENX - Free Report) by 68.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,397 shares of the industrial products company's stock after selling 637,994 shares during the period. Sourcerock Group LLC owned 0.32% of Century Aluminum worth $5,364,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CENX. New Age Alpha Advisors LLC purchased a new position in Century Aluminum in the fourth quarter worth about $39,000. AlphaQuest LLC grew its stake in shares of Century Aluminum by 2,889.3% in the fourth quarter. AlphaQuest LLC now owns 2,511 shares of the industrial products company's stock worth $46,000 after acquiring an additional 2,427 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Century Aluminum by 159.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company's stock worth $59,000 after acquiring an additional 2,000 shares during the period. Corton Capital Inc. bought a new stake in shares of Century Aluminum in the fourth quarter worth approximately $189,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Century Aluminum in the fourth quarter worth approximately $199,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on CENX shares. BMO Capital Markets upgraded shares of Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Monday, February 24th. StockNews.com upgraded shares of Century Aluminum from a "sell" rating to a "hold" rating in a research note on Friday, May 9th.

Insiders Place Their Bets

In related news, CAO Robert F. Hoffman sold 2,500 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $19.99, for a total transaction of $49,975.00. Following the completion of the transaction, the chief accounting officer now directly owns 64,083 shares of the company's stock, valued at approximately $1,281,019.17. This trade represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.76% of the company's stock.

Century Aluminum Stock Performance

NASDAQ CENX traded down $0.37 during trading hours on Wednesday, hitting $15.80. 1,134,021 shares of the company's stock traded hands, compared to its average volume of 1,407,387. The business's fifty day moving average price is $16.88 and its two-hundred day moving average price is $19.01. The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.47 billion, a P/E ratio of 5.00 and a beta of 2.70. Century Aluminum has a 52 week low of $11.40 and a 52 week high of $25.39.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.25). The firm had revenue of $633.90 million during the quarter, compared to the consensus estimate of $643.80 million. Century Aluminum had a return on equity of 13.38% and a net margin of 14.69%. Equities research analysts predict that Century Aluminum will post 2.76 EPS for the current year.

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.