The Manufacturers Life Insurance Company Sells 1,352 Shares of Century Aluminum (NASDAQ:CENX)

The Manufacturers Life Insurance Company decreased its holdings in shares of Century Aluminum (NASDAQ:CENX) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,238 shares of the industrial products company’s stock after selling 1,352 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Century Aluminum were worth $478,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CENX. Pertento Partners LLP purchased a new stake in Century Aluminum during the fourth quarter valued at $7,678,000. Arrowstreet Capital Limited Partnership raised its stake in Century Aluminum by 348.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 496,970 shares of the industrial products company’s stock valued at $9,055,000 after purchasing an additional 386,133 shares in the last quarter. Yaupon Capital Management LP raised its stake in Century Aluminum by 76.3% during the fourth quarter. Yaupon Capital Management LP now owns 567,837 shares of the industrial products company’s stock valued at $10,346,000 after purchasing an additional 245,813 shares in the last quarter. Cohen & Steers Inc. purchased a new stake in Century Aluminum during the fourth quarter valued at $3,485,000. Finally, Bridgewater Associates LP raised its stake in Century Aluminum by 74.3% during the fourth quarter. Bridgewater Associates LP now owns 431,279 shares of the industrial products company’s stock valued at $7,858,000 after purchasing an additional 183,875 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Price Performance

Century Aluminum stock opened at $16.39 on Friday. The company’s fifty day moving average price is $17.09 and its 200 day moving average price is $19.04. Century Aluminum has a 1 year low of $11.40 and a 1 year high of $25.39. The stock has a market capitalization of $1.53 billion, a P/E ratio of 5.19 and a beta of 2.70. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Century Aluminum had a net margin of 14.69% and a return on equity of 13.38%. The company had revenue of $633.90 million during the quarter, compared to analyst estimates of $643.80 million. As a group, equities research analysts anticipate that Century Aluminum will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Century Aluminum news, CAO Robert F. Hoffman sold 2,500 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $19.99, for a total value of $49,975.00. Following the transaction, the chief accounting officer now owns 64,083 shares of the company’s stock, valued at $1,281,019.17. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets raised shares of Century Aluminum from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, February 24th. StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research note on Friday, May 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.