First Eagle Investment Management LLC Cuts Stock Holdings in Century Aluminum (NASDAQ:CENX)

First Eagle Investment Management LLC reduced its holdings in shares of Century Aluminum (NASDAQ:CENX - Free Report) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 428,756 shares of the industrial products company's stock after selling 202,558 shares during the period. First Eagle Investment Management LLC owned about 0.46% of Century Aluminum worth $7,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CENX. Mountaineer Partners Management LLC grew its position in Century Aluminum by 1,607.1% during the third quarter. Mountaineer Partners Management LLC now owns 22,849,097 shares of the industrial products company's stock valued at $370,841,000 after acquiring an additional 21,510,639 shares during the last quarter. JPMorgan Chase & Co. grew its position in Century Aluminum by 49.9% during the third quarter. JPMorgan Chase & Co. now owns 959,033 shares of the industrial products company's stock valued at $15,565,000 after acquiring an additional 319,164 shares during the last quarter. Yaupon Capital Management LP grew its position in Century Aluminum by 401.5% during the third quarter. Yaupon Capital Management LP now owns 322,024 shares of the industrial products company's stock valued at $5,226,000 after acquiring an additional 257,812 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Century Aluminum during the third quarter valued at approximately $4,163,000. Finally, Bridgewater Associates LP grew its position in Century Aluminum by 232.1% during the third quarter. Bridgewater Associates LP now owns 247,404 shares of the industrial products company's stock valued at $4,015,000 after acquiring an additional 172,903 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other Century Aluminum news, CEO Jesse E. Gary sold 29,243 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $18.97, for a total transaction of $554,739.71. Following the transaction, the chief executive officer now owns 50,753 shares in the company, valued at approximately $962,784.41. This represents a 36.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert F. Hoffman sold 2,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was 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 $1,281,019.17. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Century Aluminum Trading Down 1.7 %

Shares of NASDAQ CENX traded down $0.35 during midday trading on Wednesday, hitting $19.73. 1,562,121 shares of the company traded hands, compared to its average volume of 1,343,048. 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 12-month low of $11.40 and a 12-month high of $25.39. The stock has a 50-day moving average price of $19.38 and a 200 day moving average price of $18.69. The firm has a market cap of $1.82 billion, a P/E ratio of 6.24 and a beta of 2.67.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its earnings results on Thursday, February 20th. The industrial products company reported $0.47 earnings per share for the quarter, topping 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 firm had revenue of $631.00 million for the quarter, compared to the consensus estimate of $515.27 million. During the same quarter in the prior year, the business earned $0.39 EPS. As a group, analysts expect that Century Aluminum will post 2.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Century Aluminum Company 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.