Bridgewater Associates LP Increases Stake in Century Aluminum (NASDAQ:CENX)

Bridgewater Associates LP boosted its stake in Century Aluminum (NASDAQ:CENX) by 232.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,404 shares of the industrial products company’s stock after buying an additional 172,903 shares during the period. Bridgewater Associates LP owned 0.27% of Century Aluminum worth $4,015,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CENX. Quest Partners LLC lifted its stake in shares of Century Aluminum by 104.1% in the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 1,385 shares during the period. GAMMA Investing LLC raised its holdings in Century Aluminum by 39.6% in the third quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,233 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Century Aluminum by 7,779.8% during the first quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock valued at $108,000 after buying an additional 6,924 shares during the period. Olympiad Research LP bought a new stake in shares of Century Aluminum during the 3rd quarter valued at $180,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Century Aluminum during the 3rd quarter valued at $189,000. 61.59% of the stock is owned by institutional investors.

Century Aluminum Stock Performance

Shares of Century Aluminum stock opened at $22.83 on Friday. Century Aluminum has a 1 year low of $7.28 and a 1 year high of $24.21. The firm’s 50-day moving average is $18.68 and its 200 day moving average is $16.83. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 7.64 and a beta of 2.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56.

Century Aluminum (NASDAQ:CENX) last issued its 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. The firm had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Sell-side analysts anticipate that Century Aluminum will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Century Aluminum Company 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.