HITE Hedge Asset Management LLC Purchases New Stake in Century Aluminum (NASDAQ:CENX)

HITE Hedge Asset Management LLC purchased a new stake in Century Aluminum (NASDAQ:CENX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 39,705 shares of the industrial products company’s stock, valued at approximately $644,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Century Aluminum by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,819,805 shares of the industrial products company’s stock valued at $89,567,000 after purchasing an additional 39,900 shares in the last quarter. Encompass Capital Advisors LLC raised its stake in Century Aluminum by 1,208.7% in the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock valued at $23,477,000 after purchasing an additional 1,294,538 shares in the last quarter. American Century Companies Inc. raised its stake in 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 purchasing an additional 276,304 shares in the last quarter. Impala Asset Management LLC raised its stake in Century Aluminum by 20.6% in the second quarter. Impala Asset Management LLC now owns 850,000 shares of the industrial products company’s stock valued at $14,238,000 after purchasing an additional 145,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Century Aluminum by 16.9% in the third quarter. Assenagon Asset Management S.A. now owns 621,300 shares of the industrial products company’s stock valued at $10,084,000 after purchasing an additional 89,621 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Stock Performance

Century Aluminum stock opened at $22.68 on Tuesday. The business has a 50 day moving average of $18.85 and a 200-day moving average of $16.85. Century Aluminum has a 1 year low of $7.28 and a 1 year high of $24.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. The company has a market capitalization of $2.10 billion, a P/E ratio of 7.59 and a beta of 2.50.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on CENX shares. 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 note on Tuesday, November 5th. B. Riley boosted their target price on Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research note 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.