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

Sourcerock Group LLC decreased its position in Century Aluminum (NASDAQ:CENX - Free Report) by 68.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,397 shares of the industrial products company's stock after selling 637,994 shares during the period. Sourcerock Group LLC owned about 0.32% of Century Aluminum worth $5,364,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CENX. Glencore plc purchased a new position in shares of Century Aluminum in the fourth quarter worth about $729,427,000. Pertento Partners LLP purchased a new stake in Century Aluminum during the 4th quarter worth about $7,678,000. Arrowstreet Capital Limited Partnership lifted its holdings in Century Aluminum by 348.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 496,970 shares of the industrial products company's stock worth $9,055,000 after purchasing an additional 386,133 shares in the last quarter. Millennium Management LLC lifted its holdings in Century Aluminum by 333.7% during the 4th quarter. Millennium Management LLC now owns 457,728 shares of the industrial products company's stock worth $8,340,000 after purchasing an additional 352,186 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Century Aluminum by 208.3% during the 4th quarter. Nuveen Asset Management LLC now owns 413,223 shares of the industrial products company's stock worth $7,529,000 after purchasing an additional 279,211 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CENX. BMO Capital Markets raised Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Monday, February 24th. Wall Street Zen raised Century Aluminum from a "sell" rating to a "hold" rating in a report on Friday, May 9th.

Century Aluminum Price Performance

Shares of CENX traded up $0.20 during mid-day trading on Friday, reaching $15.68. 929,603 shares of the stock traded hands, compared to its average volume of 1,405,975. The firm has a fifty day moving average price of $16.70 and a 200 day moving average price of $18.96. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 4.96 and a beta of 2.70. The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. Century Aluminum has a 1 year low of $11.40 and a 1 year high of $25.39.

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

Insider Activity at Century Aluminum

In related news, CAO Robert F. Hoffman sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $19.99, for a total value of $49,975.00. Following the sale, the chief accounting officer now directly owns 64,083 shares of the company's stock, valued at $1,281,019.17. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by insiders.

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.