HITE Hedge Asset Management LLC Takes $644,000 Position in Century Aluminum (NASDAQ:CENX)

HITE Hedge Asset Management LLC purchased a new stake in Century Aluminum (NASDAQ:CENX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,705 shares of the industrial products company’s stock, valued at approximately $644,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CENX. Centiva Capital LP acquired a new position in Century Aluminum in the 3rd quarter worth $559,000. Paloma Partners Management Co acquired a new position in Century Aluminum in the 3rd quarter worth $335,000. Edgestream Partners L.P. acquired a new position in Century Aluminum in the 3rd quarter worth $2,160,000. Verition Fund Management LLC boosted its stake in Century Aluminum by 381.3% in the 3rd quarter. Verition Fund Management LLC now owns 117,513 shares of the industrial products company’s stock worth $1,907,000 after purchasing an additional 93,099 shares during the period. Finally, Bridgewater Associates LP boosted its stake in Century Aluminum by 232.1% in the 3rd quarter. Bridgewater Associates LP now owns 247,404 shares of the industrial products company’s stock worth $4,015,000 after purchasing an additional 172,903 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Trading Down 0.7 %

Shares of NASDAQ:CENX opened at $22.68 on Tuesday. The company’s 50-day moving average price is $18.85 and its two-hundred day moving average price is $16.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. Century Aluminum has a one year low of $7.28 and a one year high of $24.21. The stock has a market capitalization of $2.10 billion, a PE ratio of 7.59 and a beta of 2.50.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CENX shares. StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. B. Riley boosted their price target on shares of Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets boosted 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 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.