Allspring Global Investments Holdings LLC Buys 434,097 Shares of Century Aluminum Company $CENX

Allspring Global Investments Holdings LLC increased its stake in Century Aluminum Company (NASDAQ:CENX) by 1,993.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 455,876 shares of the industrial products company’s stock after acquiring an additional 434,097 shares during the period. Allspring Global Investments Holdings LLC owned about 0.49% of Century Aluminum worth $18,664,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sourcerock Group LLC boosted its holdings in shares of Century Aluminum by 612.0% in the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock worth $25,662,000 after purchasing an additional 1,224,088 shares in the last quarter. American Century Companies Inc. boosted its position in Century Aluminum by 392.3% during the third quarter. American Century Companies Inc. now owns 767,692 shares of the industrial products company’s stock valued at $22,539,000 after buying an additional 611,758 shares during the period. Marshall Wace LLP purchased a new stake in Century Aluminum during the second quarter valued at about $9,399,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Century Aluminum by 123.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 859,900 shares of the industrial products company’s stock valued at $25,247,000 after buying an additional 475,904 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Century Aluminum by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 872,753 shares of the industrial products company’s stock worth $34,194,000 after buying an additional 464,814 shares during the period. Institutional investors own 61.59% of the company’s stock.

Insider Buying and Selling at Century Aluminum

In related news, SVP Matt Aboud sold 2,971 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $52.67, for a total value of $156,482.57. Following the completion of the transaction, the senior vice president directly owned 64,843 shares in the company, valued at $3,415,280.81. This trade represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert F. Hoffman sold 10,529 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $56.51, for a total value of $594,993.79. Following the completion of the sale, the chief accounting officer directly owned 56,643 shares in the company, valued at approximately $3,200,895.93. This represents a 15.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 401,626 shares of company stock valued at $20,847,911 over the last 90 days. 0.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CENX. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. B. Riley Financial increased their price objective on Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Wells Fargo & Company raised their price target on shares of Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Century Aluminum currently has a consensus rating of “Buy” and an average price target of $57.00.

Century Aluminum Stock Performance

Shares of CENX opened at $62.57 on Friday. The firm has a market capitalization of $6.19 billion, a PE ratio of 156.43 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98. The company has a 50-day simple moving average of $52.08 and a two-hundred day simple moving average of $40.02. Century Aluminum Company has a one year low of $13.05 and a one year high of $64.20.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share for the quarter, hitting the consensus estimate of $1.25. The company had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $661.63 million. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, analysts anticipate that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

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.