Century Aluminum Company $CENX Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP reduced its position in Century Aluminum Company (NASDAQ:CENX) by 84.6% in the 2nd quarter, Holdings Channel reports. The firm owned 45,738 shares of the industrial products company’s stock after selling 251,771 shares during the period. Engineers Gate Manager LP’s holdings in Century Aluminum were worth $2,104,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Century Aluminum during the second quarter worth approximately $474,129,000. Assenagon Asset Management S.A. boosted its holdings in shares of Century Aluminum by 109.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company’s stock valued at $107,422,000 after acquiring an additional 957,571 shares during the period. Encompass Capital Advisors LLC grew its position in shares of Century Aluminum by 210.4% during the first quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company’s stock worth $91,049,000 after acquiring an additional 1,051,525 shares during the last quarter. Impala Asset Management LLC grew its position in shares of Century Aluminum by 13.7% during the first quarter. Impala Asset Management LLC now owns 975,000 shares of the industrial products company’s stock worth $57,223,000 after acquiring an additional 117,195 shares during the last quarter. Finally, Kinetic Partners Management LP acquired a new position in shares of Century Aluminum in the 2nd quarter valued at $35,736,000. 61.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CENX has been the subject of several research reports. UBS Group initiated coverage on shares of Century Aluminum in a research report on Monday, August 10th. They issued a “buy” rating and a $60.00 price target for the company. B. Riley Financial restated a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Weiss Ratings cut shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Zacks Research downgraded shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised Century Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Century Aluminum Stock Performance

NASDAQ:CENX opened at $39.71 on Wednesday. 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 firm has a market cap of $3.93 billion, a price-to-earnings ratio of 6.86 and a beta of 1.99. The firm’s fifty day moving average price is $45.53 and its 200 day moving average price is $53.24. Century Aluminum Company has a 1-year low of $25.40 and a 1-year high of $70.43.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.33 by $0.13. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The company had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. The company’s revenue for the quarter was up 59.0% compared to the same quarter last year. On average, sell-side analysts expect that Century Aluminum Company will post 7.75 EPS for the current year.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum’s operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.