Century Aluminum Company $CENX Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in Century Aluminum Company (NASDAQ:CENX) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 207,521 shares of the industrial products company’s stock after buying an additional 29,424 shares during the period. Public Sector Pension Investment Board owned 0.22% of Century Aluminum worth $6,093,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in Century Aluminum during the second quarter valued at about $641,000. Convergence Investment Partners LLC acquired a new position in shares of Century Aluminum in the 3rd quarter valued at about $942,000. New Century Financial Group LLC purchased a new stake in shares of Century Aluminum during the 3rd quarter worth about $987,000. Campbell & CO Investment Adviser LLC raised its holdings in Century Aluminum by 620.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company’s stock valued at $4,203,000 after buying an additional 123,285 shares during the period. Finally, SummerHaven Investment Management LLC acquired a new position in Century Aluminum during the third quarter valued at approximately $1,277,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CENX. B. Riley Financial raised their target price on shares of Century Aluminum from $37.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Zacks Research cut Century Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. BMO Capital Markets raised their target price on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Insiders Place Their Bets

In related news, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $48.19, for a total value of $7,228,500.00. Following the completion of the transaction, the chief executive officer owned 292,580 shares in the company, valued at $14,099,430.20. This represents a 33.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Century Aluminum Price Performance

Shares of CENX opened at $50.22 on Thursday. The company has a current ratio of 1.71, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69. Century Aluminum Company has a 52 week low of $13.05 and a 52 week high of $55.59. The stock has a 50 day moving average of $44.00 and a 200-day moving average of $33.05. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 59.08 and a beta of 2.24.

About Century Aluminum

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.