Victory Capital Management Inc. has made a notable strategic move in the first quarter, significantly bolstering its portfolio with a substantial investment in Century Aluminum Company. This acquisition highlights the firm’s confidence in the industrial products sector and Century Aluminum’s market position, injecting over a million dollars into the company’s stock.
According to its most recent SEC filing, Victory Capital Management Inc. purchased precisely 61,737 shares of Century Aluminum Company stock. This new position is valued at approximately $1,146,000, underscoring a significant commitment to the company.
Beyond Victory Capital, other prominent institutional investors have also shown increased interest in Century Aluminum. Cambridge Investment Research Advisors Inc., for instance, dramatically expanded its holdings by 60.5% in the first quarter, now owning 41,622 shares valued at $773,000. Similarly, Teacher Retirement System of Texas escalated its stake by an impressive 130.4%, acquiring 33,414 shares worth $620,000.
Further demonstrating the trend of growing institutional confidence, New York State Common Retirement Fund boosted its holdings by 21.3%, bringing its total to 359,867 shares valued at nearly $6.7 million. New York State Teachers Retirement System also increased its position by 3.4%, now holding 94,135 shares worth $1.747 million, collectively pointing to robust institutional holdings in CENX stock.
Century Aluminum Company’s shares opened at $21.32, reflecting its current market valuation. The company boasts a market capitalization of $1.99 billion and a PE ratio of 18.07, indicators of its financial health and investor perception. Its 50-day and 200-day simple moving averages of $18.99 and $18.38 respectively suggest a stable, upward trend in its stock market investments.
Key financial ratios further illuminate Century Aluminum’s operational strength. With a quick ratio of 0.63, a current ratio of 1.84, and a debt-to-equity ratio of 0.66, the company demonstrates sound liquidity and manageable leverage. These metrics, coupled with a recent analyst upgrade from a “hold” to a “buy” rating, reinforce a positive outlook for the aluminum industry player.
Century Aluminum Company is a major producer of primary aluminum products across the United States and Iceland. Its operations extend to an alumina production facility in Iceland and a carbon anode production facility in the Netherlands, solidifying its role as a significant entity within its sector and attracting ongoing investment firms and their market analysis.
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