Key Points
- CEO Jesse Gary sold 150,000 shares on March 16 at an average price of $55.47 for a total of $8,320,500, reducing his ownership by 51.27% and disclosed in an SEC filing.
- Despite the insider sale, analysts remain broadly positive — Century Aluminum has a consensus "Buy" rating with a $57 consensus target and several firms raising targets into the high-$60s after the company reported EPS of $1.25 (in line with estimates) while revenue slightly missed.
Century Aluminum Company (NASDAQ:CENX - Get Free Report) CEO Jesse Gary sold 150,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.47, for a total value of $8,320,500.00. Following the completion of the transaction, the chief executive officer owned 142,580 shares of the company's stock, valued at $7,908,912.60. This represents a 51.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Century Aluminum Stock Performance
Shares of CENX stock opened at $56.49 on Wednesday. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 141.23 and a beta of 2.16. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. The business's 50-day moving average price is $50.28 and its 200-day moving average price is $37.33. Century Aluminum Company has a 12 month low of $13.05 and a 12 month high of $59.12.
Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The company had revenue of $633.70 million during the quarter, compared to the consensus estimate of $661.63 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm's revenue was up .4% compared to the same quarter last year. Equities research analysts forecast that Century Aluminum Company will post 2.76 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on CENX shares. Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 17th. Wells Fargo & Company increased their price objective on Century Aluminum from $61.00 to $69.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Wall Street Zen raised Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, B. Riley Financial upped their price target on Century Aluminum from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Century Aluminum currently has a consensus rating of "Buy" and a consensus target price of $57.00.
Get Our Latest Research Report on CENX
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of CENX. Lido Advisors LLC boosted its stake in shares of Century Aluminum by 1.5% in the 4th quarter. Lido Advisors LLC now owns 12,911 shares of the industrial products company's stock valued at $506,000 after purchasing an additional 196 shares during the last quarter. ProShare Advisors LLC raised its stake in Century Aluminum by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company's stock worth $402,000 after buying an additional 308 shares during the last quarter. CWM LLC lifted its holdings in Century Aluminum by 26.3% in the third quarter. CWM LLC now owns 1,592 shares of the industrial products company's stock valued at $47,000 after buying an additional 332 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Century Aluminum by 48.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company's stock valued at $47,000 after buying an additional 386 shares during the period. Finally, Arizona State Retirement System boosted its position in Century Aluminum by 2.5% during the third quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company's stock valued at $486,000 after acquiring an additional 411 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company's stock.
About Century Aluminum
(
Get Free Report)
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.
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