Wellington Management Group LLP Has $6.64 Million Stake in Century Aluminum (NASDAQ:CENX)

Wellington Management Group LLP lowered its position in Century Aluminum (NASDAQ:CENX) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 409,231 shares of the industrial products company’s stock after selling 5,529 shares during the quarter. Wellington Management Group LLP’s holdings in Century Aluminum were worth $6,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CENX. Mountaineer Partners Management LLC raised its holdings in shares of Century Aluminum by 1,607.1% in the 3rd quarter. Mountaineer Partners Management LLC now owns 22,849,097 shares of the industrial products company’s stock valued at $370,841,000 after purchasing an additional 21,510,639 shares during the period. Encompass Capital Advisors LLC increased its position in Century Aluminum by 1,208.7% during the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock worth $23,477,000 after buying an additional 1,294,538 shares during the last quarter. Bank of Montreal Can raised its stake in Century Aluminum by 341.1% in the second quarter. Bank of Montreal Can now owns 411,968 shares of the industrial products company’s stock valued at $6,900,000 after buying an additional 318,579 shares during the period. American Century Companies Inc. lifted its position in shares of Century Aluminum by 30.4% in the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock valued at $19,870,000 after buying an additional 276,304 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Century Aluminum during the 3rd quarter worth approximately $4,163,000. Institutional investors own 61.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CENX. StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. BMO Capital Markets lifted their target price on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. B. Riley upped their price target 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. Finally, Wolfe Research upgraded shares of Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Tuesday, December 3rd.

Century Aluminum Stock Down 2.2 %

CENX opened at $20.41 on Tuesday. The stock has a fifty day moving average of $20.29 and a 200-day moving average of $17.17. The company has a market capitalization of $1.89 billion, a P/E ratio of 6.83 and a beta of 2.50. Century Aluminum has a fifty-two week low of $9.65 and a fifty-two week high of $25.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.31. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. The business had revenue of $539.10 million during the quarter, compared to analysts’ expectations of $587.10 million. During the same quarter in the previous year, the company earned ($0.13) EPS. On average, equities analysts expect that Century Aluminum will post 0.56 EPS 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.