Norges Bank Acquires New Shares in Century Aluminum (NASDAQ:CENX)

Norges Bank purchased a new position in shares of Century Aluminum (NASDAQ:CENX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 122,254 shares of the industrial products company’s stock, valued at approximately $2,227,000. Norges Bank owned 0.13% of Century Aluminum as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC increased its position in shares of Century Aluminum by 2,889.3% during the fourth quarter. AlphaQuest LLC now owns 2,511 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 2,427 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Century Aluminum in the fourth quarter valued at approximately $54,000. Nisa Investment Advisors LLC increased its position in shares of Century Aluminum by 159.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 2,000 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Century Aluminum during the fourth quarter worth $199,000. Finally, Inceptionr LLC bought a new stake in Century Aluminum during the fourth quarter worth $207,000. 61.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised Century Aluminum from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Monday, February 24th. StockNews.com lowered shares of Century Aluminum from a “hold” rating to a “sell” rating in a research report on Monday, March 24th.

Insider Activity at Century Aluminum

In other Century Aluminum news, CAO Robert F. Hoffman sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $19.99, for a total value of $49,975.00. Following the completion of the transaction, the chief accounting officer now directly owns 64,083 shares in the company, valued at $1,281,019.17. This represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

Century Aluminum Trading Up 6.6 %

NASDAQ CENX opened at $15.60 on Friday. The firm has a market cap of $1.44 billion, a PE ratio of 4.94 and a beta of 2.56. Century Aluminum has a 1-year low of $11.40 and a 1-year high of $25.39. The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average of $18.60 and a 200-day moving average of $19.13.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Century Aluminum had a return on equity of 13.38% and a net margin of 14.69%. The company had revenue of $631.00 million for the quarter, compared to analyst estimates of $515.27 million. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, sell-side analysts forecast that Century Aluminum will post 2.76 EPS 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.