Edgestream Partners L.P. Makes New Investment in Century Aluminum (NASDAQ:CENX)

Edgestream Partners L.P. acquired a new stake in Century Aluminum (NASDAQ:CENX) in the third quarter, HoldingsChannel.com reports. The firm acquired 133,060 shares of the industrial products company’s stock, valued at approximately $2,160,000.

Several other institutional investors have also recently added to or reduced their stakes in CENX. MQS Management LLC raised its stake in Century Aluminum by 8.1% during the second quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 883 shares during the period. GAMMA Investing LLC raised its position in shares of Century Aluminum by 39.6% in the 3rd quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock worth $71,000 after buying an additional 1,233 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Century Aluminum by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 27,893 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 1,335 shares during the last quarter. Quest Partners LLC boosted its holdings in Century Aluminum by 104.1% in the second quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 1,385 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Century Aluminum by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 366,804 shares of the industrial products company’s stock valued at $6,144,000 after acquiring an additional 1,641 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CENX has been the topic of a number of research reports. B. Riley raised their price objective on Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. BMO Capital Markets upped their price target on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th.

Century Aluminum Stock Down 0.7 %

Shares of NASDAQ:CENX opened at $22.68 on Tuesday. The company has a 50 day moving average of $18.85 and a two-hundred day moving average of $16.85. Century Aluminum has a 52-week low of $7.28 and a 52-week high of $24.21. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 7.59 and a beta of 2.47.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) 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 firm had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. As a group, analysts forecast that Century Aluminum will post 0.56 earnings per share for the current fiscal 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.