Century Aluminum (NASDAQ:CENX) Sets New 12-Month High – Here’s What Happened

Century Aluminum Company (NASDAQ:CENX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $55.99 and last traded at $53.02, with a volume of 2624629 shares traded. The stock had previously closed at $53.51.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. BMO Capital Markets lifted their price target on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 7th. B. Riley Financial increased their price objective on shares of Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Wells Fargo & Company lifted their price target on shares of Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $54.33.

Century Aluminum Trading Down 1.2%

The firm has a fifty day moving average of $46.76 and a 200-day moving average of $34.46. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 128.90 and a beta of 2.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.97.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.25. The business had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. Century Aluminum had a return on equity of 5.55% and a net margin of 1.65%.The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, equities analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $48.19, for a total transaction of $7,228,500.00. Following the completion of the sale, the chief executive officer directly owned 292,580 shares in the company, valued at $14,099,430.20. This trade represents a 33.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Dezee sold 66,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $50.72, for a total value of $3,347,520.00. Following the completion of the transaction, the executive vice president owned 97,647 shares in the company, valued at approximately $4,952,655.84. This trade represents a 40.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Century Aluminum

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Century Aluminum in the 4th quarter valued at approximately $1,121,000. Beartown Capital Management LLC bought a new position in Century Aluminum during the 4th quarter valued at $1,959,000. Summit Global Investments bought a new position in Century Aluminum during the 4th quarter valued at $299,000. State of Tennessee Department of Treasury grew its holdings in Century Aluminum by 48.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 18,772 shares of the industrial products company’s stock worth $735,000 after acquiring an additional 6,152 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Century Aluminum in the 4th quarter worth about $227,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

About Century Aluminum

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.