Wellington Management Group LLP Grows Stake in Century Aluminum Company $CENX

Key Points

• Wellington Management Group LLP increased its holdings in Century Aluminum Company by 68.6%, acquiring an additional 282,163 shares and bringing their total ownership to 693,752 shares valued at approximately $12.9 million.
• Despite a revenue of $628.1 million, Century Aluminum reported an EPS of ($0.05) in its latest earnings release, significantly missing the consensus estimate of $0.34.
• Analysts have mixed ratings for CENX, with Zacks Research upgrading it to a "strong-buy," while Wall Street Zen downgraded it from "buy" to "hold." The current consensus rating is "Buy" with an average price target of $24.67.

Wellington Management Group LLP increased its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 68.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 693,752 shares of the industrial products company's stock after purchasing an additional 282,163 shares during the quarter. Wellington Management Group LLP owned approximately 0.74% of Century Aluminum worth $12,876,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in Century Aluminum by 261.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company's stock worth $75,000 after purchasing an additional 2,909 shares during the period. GAMMA Investing LLC raised its holdings in Century Aluminum by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock worth $101,000 after purchasing an additional 628 shares during the period. Corton Capital Inc. bought a new position in Century Aluminum in the 4th quarter worth $189,000. Vise Technologies Inc. bought a new position in Century Aluminum in the 4th quarter worth $225,000. Finally, ProShare Advisors LLC raised its holdings in Century Aluminum by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 15,893 shares of the industrial products company's stock worth $290,000 after purchasing an additional 4,896 shares during the period. 61.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the transaction, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company's stock.

Century Aluminum Price Performance

Shares of Century Aluminum stock traded down $1.25 during trading on Tuesday, reaching $21.09. 554,746 shares of the stock traded hands, compared to its average volume of 1,652,060. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 18.14 and a beta of 2.55. The business has a fifty day simple moving average of $21.02 and a two-hundred day simple moving average of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.75 and a quick ratio of 0.61. Century Aluminum Company has a 52-week low of $11.63 and a 52-week high of $25.39.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). The firm had revenue of $628.10 million for the quarter, compared to analysts' expectations of $606.10 million. Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. Sell-side analysts expect that Century Aluminum Company will post 2.76 EPS for the current 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.