Bank of New York Mellon Corp Raises Stock Holdings in Century Aluminum (NASDAQ:CENX)

Bank of New York Mellon Corp lifted its holdings in shares of Century Aluminum (NASDAQ:CENX - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 347,045 shares of the industrial products company's stock after acquiring an additional 19,129 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.37% of Century Aluminum worth $6,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC raised its position 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 worth $370,841,000 after acquiring an additional 21,510,639 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Century Aluminum by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,279,772 shares of the industrial products company's stock valued at $20,774,000 after buying an additional 13,486 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Century Aluminum by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 959,033 shares of the industrial products company's stock worth $15,565,000 after purchasing an additional 319,164 shares during the period. Impala Asset Management LLC boosted its position in shares of Century Aluminum by 6.4% in the 3rd quarter. Impala Asset Management LLC now owns 904,000 shares of the industrial products company's stock worth $14,672,000 after purchasing an additional 54,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Century Aluminum by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,391 shares of the industrial products company's stock worth $7,910,000 after buying an additional 10,105 shares during the last quarter. Hedge funds and other institutional investors own 61.59% of the company's stock.

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Century Aluminum Price Performance

Shares of CENX traded up $0.44 during midday trading on Thursday, hitting $20.17. 846,415 shares of the company traded hands, compared to its average volume of 1,342,213. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 6.44 and a beta of 2.67. The firm has a 50 day moving average of $19.39 and a 200-day moving average of $18.70. 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 has a 52 week low of $11.40 and a 52 week high of $25.39.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. Century Aluminum had a return on equity of 13.38% and a net margin of 14.69%. The company had revenue of $631.00 million during the quarter, compared to analyst estimates of $515.27 million. During the same period in the prior year, the company earned $0.39 earnings per share. On average, analysts forecast that Century Aluminum will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jesse E. Gary sold 29,243 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $18.97, for a total transaction of $554,739.71. Following the transaction, the chief executive officer now directly owns 50,753 shares of the company's stock, valued at approximately $962,784.41. This trade represents a 36.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Robert F. Hoffman sold 2,500 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $19.99, for a total value of $49,975.00. Following the transaction, the chief accounting officer now owns 64,083 shares in the company, valued at approximately $1,281,019.17. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CENX. BMO Capital Markets raised Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research note on Monday, February 24th. StockNews.com upgraded shares of Century Aluminum from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Wolfe Research raised shares of Century Aluminum from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a report on Tuesday, December 3rd.

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.