Glencore plc Invests $729.43 Million in Century Aluminum (NASDAQ:CENX)

Glencore plc purchased a new stake in Century Aluminum (NASDAQ:CENX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 40,034,438 shares of the industrial products company's stock, valued at approximately $729,427,000. Century Aluminum makes up about 87.3% of Glencore plc's portfolio, making the stock its biggest holding. Glencore plc owned 43.14% of Century Aluminum at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Century Aluminum by 159.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company's stock worth $59,000 after purchasing an additional 2,000 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Century Aluminum in the 4th quarter worth approximately $39,000. Franklin Resources Inc. grew its holdings in shares of Century Aluminum by 7.9% in the third quarter. Franklin Resources Inc. now owns 30,115 shares of the industrial products company's stock valued at $524,000 after acquiring an additional 2,198 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Century Aluminum by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 411,589 shares of the industrial products company's stock valued at $7,499,000 after acquiring an additional 2,358 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Century Aluminum by 2,889.3% during 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. Institutional investors and hedge funds own 61.59% of the company's stock.

Insider Transactions at Century Aluminum

In related news, CAO Robert F. Hoffman sold 2,500 shares of the company'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 transaction of $49,975.00. Following the sale, the chief accounting officer now owns 64,083 shares of the company's stock, valued at approximately $1,281,019.17. This represents a 3.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company's stock.

Century Aluminum Stock Performance

Shares of NASDAQ CENX traded up $0.49 during trading on Friday, reaching $17.29. 1,227,753 shares of the stock traded hands, compared to its average volume of 1,382,168. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. The stock has a market capitalization of $1.60 billion, a P/E ratio of 5.47 and a beta of 2.56. Century Aluminum has a 52-week low of $11.40 and a 52-week high of $25.39. The company has a 50-day moving average of $17.49 and a 200-day moving average of $19.12.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Century Aluminum had a return on equity of 13.38% and a net margin of 14.69%. The company had revenue of $631.00 million during the quarter, compared to analysts' expectations of $515.27 million. During the same period in the previous year, the business earned $0.39 earnings per share. Analysts forecast that Century Aluminum will post 2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Century Aluminum from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. BMO Capital Markets raised shares of Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Monday, February 24th.

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.