American Century Companies Inc. Buys 276,304 Shares of Century Aluminum (NASDAQ:CENX)

American Century Companies Inc. grew its position in Century Aluminum (NASDAQ:CENX) by 30.4% in the second quarter, Holdings Channel reports. The fund owned 1,186,243 shares of the industrial products company’s stock after acquiring an additional 276,304 shares during the quarter. American Century Companies Inc.’s holdings in Century Aluminum were worth $19,870,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CENX. Los Angeles Capital Management LLC bought a new position in Century Aluminum in the first quarter valued at about $2,058,000. GSA Capital Partners LLP increased its stake in shares of Century Aluminum by 314.4% in the first quarter. GSA Capital Partners LLP now owns 109,004 shares of the industrial products company’s stock valued at $1,678,000 after buying an additional 82,703 shares during the period. SG Americas Securities LLC bought a new position in Century Aluminum in the 1st quarter valued at approximately $601,000. BNP Paribas Financial Markets boosted its position in Century Aluminum by 43.4% during the 1st quarter. BNP Paribas Financial Markets now owns 230,860 shares of the industrial products company’s stock worth $3,553,000 after buying an additional 69,910 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Century Aluminum by 125.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock worth $8,906,000 after acquiring an additional 296,101 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Insider Transactions at Century Aluminum

In related news, CEO Jesse E. Gary sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $16.21, for a total transaction of $972,600.00. Following the transaction, the chief executive officer now owns 62,447 shares in the company, valued at approximately $1,012,265.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CENX. B. Riley reduced their price objective on shares of Century Aluminum from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets cut their price objective on Century Aluminum from $17.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th.

Century Aluminum Price Performance

CENX stock opened at $14.74 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.72 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $14.58 and its 200 day simple moving average is $15.64. Century Aluminum has a 12-month low of $5.70 and a 12-month high of $21.37. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 6.76 and a beta of 2.48.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, August 8th. The industrial products company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $560.80 million for the quarter, compared to the consensus estimate of $530.90 million. Century Aluminum had a net margin of 10.32% and a negative return on equity of 0.04%. On average, analysts expect that Century Aluminum will post 0.07 earnings per share for the current year.

Century Aluminum Profile

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.