Norges Bank Takes Position in Century Aluminum (NASDAQ:CENX)

Norges Bank bought a new stake in shares of Century Aluminum (NASDAQ:CENX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 122,254 shares of the industrial products company's stock, valued at approximately $2,227,000. Norges Bank owned approximately 0.13% of Century Aluminum as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AlphaQuest LLC raised its holdings in Century Aluminum by 2,889.3% in the 4th quarter. AlphaQuest LLC now owns 2,511 shares of the industrial products company's stock worth $46,000 after purchasing an additional 2,427 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Century Aluminum in the fourth quarter worth about $54,000. Nisa Investment Advisors LLC boosted its position in Century Aluminum by 159.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 2,000 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Century Aluminum during the 4th quarter worth approximately $199,000. Finally, Inceptionr LLC bought a new position in shares of Century Aluminum in the 4th quarter worth approximately $207,000. Hedge funds and other institutional investors own 61.59% of the company's stock.

Century Aluminum Stock Down 2.1 %

Shares of CENX traded down $0.33 during mid-day trading on Wednesday, reaching $15.40. The company had a trading volume of 482,335 shares, compared to its average volume of 1,396,032. 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 company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 4.87 and a beta of 2.56. The firm has a 50-day moving average price of $18.49 and a 200 day moving average price of $19.12. Century Aluminum has a 52 week low of $11.40 and a 52 week high of $25.39.

Remove Ads

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CENX. StockNews.com lowered Century Aluminum from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. 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.

Insider Activity

In related news, CAO Robert F. Hoffman sold 2,500 shares of Century Aluminum stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $19.99, for a total value of $49,975.00. Following the completion of the sale, the chief accounting officer now directly owns 64,083 shares in the company, valued at approximately $1,281,019.17. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company's stock.

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.