Handelsbanken Fonder AB Purchases New Shares in Century Aluminum Company $CENX

Handelsbanken Fonder AB acquired a new position in Century Aluminum Company (NASDAQ:CENX) in the 2nd quarter, Holdings Channel reports. The firm acquired 20,817 shares of the industrial products company’s stock, valued at approximately $958,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in shares of Century Aluminum during the 1st quarter valued at about $29,000. Summit Securities Group LLC bought a new position in Century Aluminum in the first quarter worth about $42,000. Private Trust Co. NA bought a new position in Century Aluminum in the fourth quarter worth about $28,000. Strs Ohio purchased a new stake in Century Aluminum in the first quarter worth about $47,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Century Aluminum in the fourth quarter worth about $40,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

Century Aluminum Trading Down 4.6%

NASDAQ:CENX opened at $43.58 on Thursday. Century Aluminum Company has a one year low of $20.91 and a one year high of $70.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The company’s 50-day simple moving average is $47.11 and its 200 day simple moving average is $53.92. The firm has a market capitalization of $4.31 billion, a P/E ratio of 7.53 and a beta of 1.96.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The business had revenue of $752.10 million for the quarter, compared to analysts’ expectations of $817.15 million. The company’s revenue for the quarter was up 59.0% on a year-over-year basis. As a group, analysts forecast that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CENX. UBS Group started coverage on Century Aluminum in a report on Monday, August 10th. They set a “buy” rating and a $60.00 target price on the stock. Zacks Research cut Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Wall Street Zen cut Century Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings cut Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company increased their price objective on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Century Aluminum has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.