Intech Investment Management LLC Increases Stake in Century Aluminum (NASDAQ:CENX)

Intech Investment Management LLC grew its stake in Century Aluminum (NASDAQ:CENX) by 84.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,974 shares of the industrial products company’s stock after purchasing an additional 29,326 shares during the period. Intech Investment Management LLC’s holdings in Century Aluminum were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Century Aluminum by 78.0% in the third quarter. Jennison Associates LLC now owns 47,255 shares of the industrial products company’s stock worth $767,000 after acquiring an additional 20,710 shares during the period. Empowered Funds LLC raised its holdings in Century Aluminum by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 55,316 shares of the industrial products company’s stock worth $898,000 after purchasing an additional 2,814 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in Century Aluminum during the third quarter worth approximately $300,000. Versor Investments LP acquired a new stake in Century Aluminum in the third quarter valued at approximately $256,000. Finally, Los Angeles Capital Management LLC increased its position in shares of Century Aluminum by 36.5% in the third quarter. Los Angeles Capital Management LLC now owns 26,977 shares of the industrial products company’s stock valued at $438,000 after buying an additional 7,212 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Wall Street Analyst Weigh In

CENX has been the topic of a number of recent analyst reports. StockNews.com upgraded Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. B. Riley increased their price objective on shares of Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their target price on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th.

Century Aluminum Stock Performance

Shares of NASDAQ:CENX opened at $23.04 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. Century Aluminum has a 1 year low of $7.28 and a 1 year high of $24.21. The firm has a market capitalization of $2.14 billion, a PE ratio of 7.73 and a beta of 2.47. The business’s 50 day moving average price is $18.33 and its 200-day moving average price is $16.74.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.31. The business had revenue of $539.10 million during the quarter, compared to analyst estimates of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. As a group, equities research analysts expect that Century Aluminum will post 0.56 earnings per share for the current fiscal year.

About Century Aluminum

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.