The Manufacturers Life Insurance Company Makes New Investment in Century Aluminum Company $CENX

The Manufacturers Life Insurance Company acquired a new stake in Century Aluminum Company (NASDAQ:CENX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 46,518 shares of the industrial products company’s stock, valued at approximately $2,140,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CENX. BlackRock Inc. acquired a new position in Century Aluminum during the second quarter valued at approximately $474,129,000. Vanguard Group Inc. boosted its holdings in shares of Century Aluminum by 18.7% in the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock valued at $271,901,000 after buying an additional 1,094,257 shares during the last quarter. State Street Corp increased its holdings in Century Aluminum by 1.8% during the fourth quarter. State Street Corp now owns 4,295,711 shares of the industrial products company’s stock worth $168,306,000 after buying an additional 77,895 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Century Aluminum by 109.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company’s stock valued at $107,422,000 after acquiring an additional 957,571 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Century Aluminum by 12.3% in the 4th quarter. Morgan Stanley now owns 1,609,093 shares of the industrial products company’s stock valued at $63,044,000 after acquiring an additional 176,730 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CENX. Wall Street Zen cut shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings lowered Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. UBS Group began coverage on Century Aluminum in a report on Monday, August 10th. They set a “buy” rating and a $60.00 target price on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Century Aluminum in a report on Tuesday, August 18th. Finally, Wells Fargo & Company upped their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Century Aluminum Stock Performance

CENX opened at $47.28 on Thursday. The business has a fifty day simple moving average of $45.55 and a 200 day simple moving average of $53.58. The company has a market capitalization of $4.68 billion, a PE ratio of 8.17 and a beta of 1.99. Century Aluminum Company has a 1 year low of $21.48 and a 1 year high of $70.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The firm had revenue of $752.10 million for the quarter, compared to analysts’ expectations of $817.15 million. The business’s revenue was up 59.0% compared to the same quarter last year. Research analysts expect that Century Aluminum Company will post 7.75 EPS for the current year.

Century Aluminum Company Profile

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.