Bridgewater Associates LP Raises Stock Holdings in Century Aluminum (NASDAQ:CENX)

Bridgewater Associates LP grew its stake in shares of Century Aluminum (NASDAQ:CENX) by 232.1% during the third quarter, HoldingsChannel.com reports. The fund owned 247,404 shares of the industrial products company’s stock after buying an additional 172,903 shares during the quarter. Bridgewater Associates LP’s holdings in Century Aluminum were worth $4,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CENX. Quest Partners LLC lifted its position in Century Aluminum by 104.1% during the second quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 1,385 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Century Aluminum by 39.6% during the 3rd quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,233 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Century Aluminum by 7,779.8% during the 1st quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock valued at $108,000 after buying an additional 6,924 shares during the period. Olympiad Research LP purchased a new position in shares of Century Aluminum in the 3rd quarter worth $180,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Century Aluminum in the third quarter worth $189,000. 61.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CENX. StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. B. Riley boosted their target price on shares of Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets increased their price target on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th.

Century Aluminum Stock Performance

Shares of CENX opened at $22.83 on Friday. The business has a 50-day simple moving average of $18.68 and a two-hundred day simple moving average of $16.83. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Century Aluminum has a 52 week low of $7.28 and a 52 week high of $24.21. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 7.64 and a beta of 2.47.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.31. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. The company had revenue of $539.10 million during the quarter, compared to analyst estimates of $587.10 million. During the same period in the prior year, the firm posted ($0.13) EPS. On average, analysts expect that Century Aluminum will post 0.56 EPS for the current year.

About Century Aluminum

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.