Fisher Asset Management LLC Reduces Position in Century Aluminum (NASDAQ:CENX)

Fisher Asset Management LLC trimmed its position in Century Aluminum (NASDAQ:CENX) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,110,312 shares of the industrial products company’s stock after selling 226,799 shares during the quarter. Fisher Asset Management LLC owned approximately 2.28% of Century Aluminum worth $25,619,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Century Aluminum by 35.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,107 shares of the industrial products company’s stock valued at $65,000 after buying an additional 2,405 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Century Aluminum by 8.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 33,530 shares of the industrial products company’s stock valued at $407,000 after acquiring an additional 2,680 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Century Aluminum by 34.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,309 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 2,899 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Century Aluminum by 3.6% during the fourth quarter. New York State Teachers Retirement System now owns 102,005 shares of the industrial products company’s stock worth $1,238,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in Century Aluminum in the fourth quarter valued at approximately $68,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

Century Aluminum Stock Performance

Shares of Century Aluminum stock opened at $16.81 on Friday. The firm’s fifty day simple moving average is $14.53 and its 200-day simple moving average is $11.13. Century Aluminum has a 12 month low of $5.70 and a 12 month high of $18.64. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 7.71 and a beta of 2.67. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.67 and a quick ratio of 0.38.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.53. Century Aluminum had a net margin of 10.72% and a return on equity of 4.27%. The business had revenue of $512.30 million during the quarter, compared to analysts’ expectations of $514.40 million. As a group, equities analysts forecast that Century Aluminum will post 3.1 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Century Aluminum from a “hold” rating to a “sell” rating in a research report on Friday. B. Riley upgraded shares of Century Aluminum from a “neutral” rating to a “buy” rating and upped their price objective for the company from $10.00 to $14.00 in a research note on Tuesday, January 9th. Finally, BMO Capital Markets raised their price objective on Century Aluminum from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday.

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.