Invenomic Capital Management LP Invests $4.56 Million in Century Aluminum Company $CENX

Invenomic Capital Management LP bought a new position in Century Aluminum Company (NASDAQ:CENX) during the third quarter, HoldingsChannel reports. The firm bought 155,269 shares of the industrial products company’s stock, valued at approximately $4,559,000.

Other hedge funds have also bought and sold shares of the company. Boston Partners raised its holdings in Century Aluminum by 340.1% during the second quarter. Boston Partners now owns 1,733,668 shares of the industrial products company’s stock worth $31,248,000 after buying an additional 1,339,744 shares during the last quarter. Sourcerock Group LLC grew its holdings in shares of Century Aluminum by 612.0% during the second quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock valued at $25,662,000 after buying an additional 1,224,088 shares during the last quarter. American Century Companies Inc. increased its position in shares of Century Aluminum by 392.3% during the third quarter. American Century Companies Inc. now owns 767,692 shares of the industrial products company’s stock worth $22,539,000 after acquiring an additional 611,758 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Century Aluminum during the second quarter worth about $9,399,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Century Aluminum by 123.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 859,900 shares of the industrial products company’s stock worth $25,247,000 after acquiring an additional 475,904 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jesse E. Gary sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $48.19, for a total value of $7,228,500.00. Following the transaction, the chief executive officer owned 292,580 shares in the company, valued at $14,099,430.20. The trade was a 33.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matt Aboud sold 12,126 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $52.50, for a total value of $636,615.00. Following the completion of the transaction, the senior vice president directly owned 67,814 shares of the company’s stock, valued at approximately $3,560,235. This represents a 15.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 251,626 shares of company stock worth $12,527,411 over the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CENX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. B. Riley Financial boosted their price objective on Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research upgraded Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, Wells Fargo & Company lifted their target price on Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. One research 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 an average rating of “Buy” and a consensus target price of $57.00.

Century Aluminum Stock Up 1.7%

CENX opened at $55.65 on Tuesday. Century Aluminum Company has a fifty-two week low of $13.05 and a fifty-two week high of $59.12. The firm has a market capitalization of $5.51 billion, a P/E ratio of 139.13 and a beta of 2.16. The company’s 50-day moving average is $49.99 and its 200 day moving average is $37.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. The business had revenue of $633.70 million during the quarter, compared to the consensus estimate of $661.63 million. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. Research analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

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.