First Eagle Investment Management LLC Lowers Stake in Century Aluminum (NASDAQ:CENX)

First Eagle Investment Management LLC cut its stake in Century Aluminum (NASDAQ:CENX) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 753,314 shares of the industrial products company’s stock after selling 80,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Century Aluminum were worth $12,618,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Covestor Ltd boosted its position in Century Aluminum by 13,746.2% during the first quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,787 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Century Aluminum by 199.8% in the 1st quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company’s stock worth $44,000 after buying an additional 1,918 shares during the last quarter. Quest Partners LLC raised its stake in shares of Century Aluminum by 104.1% during the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 1,385 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 acquiring an additional 6,924 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Century Aluminum in the first quarter valued at approximately $161,000. 61.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CENX. B. Riley reduced their price target on Century Aluminum from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets lowered their price target on Century Aluminum from $17.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, August 9th. Finally, StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Monday, August 12th.

Insider Activity

In other news, CEO Jesse E. Gary sold 60,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $16.21, for a total value of $972,600.00. Following the sale, the chief executive officer now owns 62,447 shares in the company, valued at $1,012,265.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.

Century Aluminum Stock Performance

Shares of CENX stock opened at $14.74 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.72 and a quick ratio of 0.63. The business has a fifty day moving average of $14.58 and a 200 day moving average of $15.64. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6.76 and a beta of 2.48. Century Aluminum has a 1 year low of $5.70 and a 1 year high of $21.37.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $530.90 million. Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. As a group, research analysts expect that Century Aluminum will post 0.07 earnings per share for the current year.

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.