The Manufacturers Life Insurance Company Makes New $2.14 Million Investment in Century Aluminum Company $CENX

The Manufacturers Life Insurance Company bought a new position in shares of Century Aluminum Company (NASDAQ:CENX) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 46,518 shares of the industrial products company’s stock, valued at approximately $2,140,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in shares of Century Aluminum in the first quarter valued at approximately $25,000. Hollencrest Capital Management bought a new position in Century Aluminum during the 1st quarter worth $29,000. EverSource Wealth Advisors LLC raised its holdings in Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,306 shares in the last quarter. Advisory Services Network LLC acquired a new position in Century Aluminum in the 3rd quarter valued at $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Century Aluminum during the 2nd quarter valued at $37,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on CENX shares. Zacks Research lowered Century Aluminum from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Wells Fargo & Company boosted their price target on Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. UBS Group assumed coverage on shares of Century Aluminum in a research report on Monday, August 10th. They set a “buy” rating and a $60.00 price objective for the company. Weiss Ratings downgraded shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Finally, B. Riley Financial reissued a “buy” rating on shares of Century Aluminum in a report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Century Aluminum presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Century Aluminum Trading Up 1.1%

Shares of CENX stock opened at $47.28 on Thursday. Century Aluminum Company has a twelve month low of $21.48 and a twelve month high of $70.43. The stock’s fifty day simple moving average is $45.55 and its 200 day simple moving average is $53.58. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.68 billion, a P/E ratio of 8.17 and a beta of 1.99.

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

Century Aluminum 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.