Handelsbanken Fonder AB Purchases Shares of 20,817 Century Aluminum Company $CENX

Handelsbanken Fonder AB purchased a new position in shares of Century Aluminum Company (NASDAQ:CENX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,817 shares of the industrial products company’s stock, valued at approximately $958,000.

A number of other hedge funds have also recently made changes to their positions in CENX. Jones Financial Companies Lllp bought a new position in shares of Century Aluminum during the 1st quarter valued at $25,000. Private Trust Co. NA bought a new stake in Century Aluminum in the fourth quarter worth $28,000. Hollencrest Capital Management bought a new stake in Century Aluminum in the first quarter worth $29,000. EverSource Wealth Advisors LLC boosted its position in Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Century Aluminum during the third quarter valued at about $34,000. 61.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CENX has been the topic of several analyst reports. Weiss Ratings downgraded Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. B. Riley Financial restated a “buy” rating on shares of Century Aluminum in a report on Tuesday. Wall Street Zen lowered Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research cut Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Finally, UBS Group assumed coverage on Century Aluminum in a research note on Monday, August 10th. They set a “buy” rating and a $60.00 price objective for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Century Aluminum Price Performance

CENX stock opened at $43.58 on Thursday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 7.53 and a beta of 1.96. The firm’s 50-day moving average price is $47.11 and its two-hundred day moving average price is $53.92. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31. Century Aluminum Company has a 12-month low of $20.91 and a 12-month high of $70.43.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The company had revenue of $752.10 million during the quarter, compared to analyst estimates of $817.15 million. The firm’s quarterly revenue was up 59.0% on a year-over-year basis. As a group, equities analysts predict that Century Aluminum Company will post 8.34 earnings per share 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.