ING Groep NV grew its stake in Century Aluminum Company (NASDAQ:CENX) by 760.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,443,639 shares of the industrial products company’s stock after acquiring an additional 2,159,729 shares during the quarter. Century Aluminum comprises about 0.8% of ING Groep NV’s portfolio, making the stock its 29th biggest position. ING Groep NV owned approximately 2.80% of Century Aluminum worth $40,516,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of CENX. State of Alaska Department of Revenue lifted its holdings in shares of Century Aluminum by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,816 shares of the industrial products company’s stock valued at $152,000 after buying an additional 4,326 shares during the period. IndexIQ Advisors LLC lifted its holdings in shares of Century Aluminum by 752.8% in the 3rd quarter. IndexIQ Advisors LLC now owns 10,293 shares of the industrial products company’s stock valued at $171,000 after buying an additional 9,086 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Century Aluminum in the 2nd quarter valued at about $160,000. Piedmont Investment Advisors LLC purchased a new position in shares of Century Aluminum in the 2nd quarter valued at about $168,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Century Aluminum by 3.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,730 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 370 shares in the last quarter. 68.01% of the stock is owned by hedge funds and other institutional investors.
CENX has been the subject of several recent analyst reports. Zacks Investment Research lowered Century Aluminum from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. J P Morgan Chase & Co lowered Century Aluminum from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $14.50 in a research note on Monday, October 30th. Cowen set a $16.00 price objective on Century Aluminum and gave the stock a “hold” rating in a research note on Sunday, October 29th. BMO Capital Markets set a $16.00 price objective on Century Aluminum and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, Deutsche Bank upgraded Century Aluminum from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.10.
Shares of Century Aluminum Company (NASDAQ CENX) opened at $13.68 on Friday. Century Aluminum Company has a 52-week low of $8.39 and a 52-week high of $20.68. The company has a current ratio of 2.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.32.
Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Century Aluminum had a negative net margin of 10.45% and a negative return on equity of 0.17%. The business had revenue of $388.80 million during the quarter, compared to analyst estimates of $392.28 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. sell-side analysts anticipate that Century Aluminum Company will post 0.39 EPS for the current fiscal year.
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Century Aluminum Company Profile
Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.
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