Marnell Management LLC Acquires New Position in Century Aluminum Company $CENX

Marnell Management LLC acquired a new stake in Century Aluminum Company (NASDAQ:CENX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 107,056 shares of the industrial products company’s stock, valued at approximately $4,194,000. Century Aluminum accounts for about 2.0% of Marnell Management LLC’s investment portfolio, making the stock its 13th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in Century Aluminum in the first quarter valued at about $25,000. Private Trust Co. NA acquired a new stake in Century Aluminum in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its position in Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 1,306 shares during the period. Advisory Services Network LLC acquired a new stake in Century Aluminum in the third quarter valued at about $34,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Century Aluminum in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Stock Performance

Shares of CENX opened at $61.19 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.30 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $62.70 and a 200-day simple moving average of $51.36. Century Aluminum Company has a 1-year low of $16.59 and a 1-year high of $70.43. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 18.27 and a beta of 1.90.

Analyst Upgrades and Downgrades

CENX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. B. Riley Financial raised their price objective on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Wells Fargo & Company raised their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Zacks Research downgraded shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Century Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Century Aluminum has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Century Aluminum Profile

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.