Point72 Asset Management L.P. Buys 459,140 Shares of Century Aluminum Co (CENX)

Point72 Asset Management L.P. lifted its stake in Century Aluminum Co (NASDAQ:CENX) by 290.0% in the second quarter, HoldingsChannel.com reports. The firm owned 617,484 shares of the industrial products company’s stock after acquiring an additional 459,140 shares during the quarter. Point72 Asset Management L.P.’s holdings in Century Aluminum were worth $9,725,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CENX. Cornerstone Wealth Management LLC acquired a new stake in Century Aluminum in the second quarter valued at $400,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Century Aluminum in the second quarter valued at $166,000. CIBC World Markets Inc. acquired a new stake in Century Aluminum in the first quarter valued at $200,000. Engineers Gate Manager LP acquired a new stake in Century Aluminum in the second quarter valued at $197,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Century Aluminum by 497.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,550 shares of the industrial products company’s stock valued at $207,000 after buying an additional 10,450 shares in the last quarter. Hedge funds and other institutional investors own 56.12% of the company’s stock.

Century Aluminum stock opened at $11.32 on Friday. Century Aluminum Co has a 1-year low of $11.04 and a 1-year high of $24.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.16 and a current ratio of 2.89. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 17.17 and a beta of 0.70.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Wednesday, August 1st. The industrial products company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.05. Century Aluminum had a return on equity of 8.11% and a net margin of 4.22%. The business had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $458.03 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. analysts anticipate that Century Aluminum Co will post 0.91 earnings per share for the current fiscal year.

A number of analysts have weighed in on CENX shares. ValuEngine cut Century Aluminum from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. Zacks Investment Research cut Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 5th. BidaskClub cut Century Aluminum from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. B. Riley started coverage on Century Aluminum in a research note on Thursday, June 21st. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Deutsche Bank upgraded Century Aluminum from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.17.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.

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Institutional Ownership by Quarter for Century Aluminum (NASDAQ:CENX)

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