Jennison Associates LLC Purchases 20,710 Shares of Century Aluminum (NASDAQ:CENX)

Jennison Associates LLC raised its position in Century Aluminum (NASDAQ:CENX) by 78.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,255 shares of the industrial products company’s stock after buying an additional 20,710 shares during the quarter. Jennison Associates LLC owned about 0.05% of Century Aluminum worth $767,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Century Aluminum by 7,779.8% in the 1st quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 6,924 shares during the period. ProShare Advisors LLC bought a new stake in shares of Century Aluminum in the first quarter valued at approximately $163,000. Vanguard Group Inc. lifted its stake in shares of Century Aluminum by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,819,805 shares of the industrial products company’s stock valued at $89,567,000 after buying an additional 39,900 shares in the last quarter. Covestor Ltd boosted its holdings in Century Aluminum by 13,746.2% in the 1st quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,787 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Century Aluminum by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,013 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 2,045 shares during the period. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Stock Performance

Century Aluminum stock opened at $22.49 on Friday. Century Aluminum has a fifty-two week low of $7.28 and a fifty-two week high of $24.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71. The stock has a market cap of $2.09 billion, a P/E ratio of 7.52 and a beta of 2.47. The firm’s fifty day moving average price is $17.97 and its 200-day moving average price is $16.65.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CENX. B. Riley boosted their price objective on shares of Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. BMO Capital Markets boosted their target price on Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.

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.