Century Aluminum (NASDAQ:CENX) Price Target Cut to $22.00 by Analysts at B. Riley

Century Aluminum (NASDAQ:CENX) had its price target lowered by B. Riley from $24.00 to $22.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

CENX has been the topic of several other research reports. StockNews.com lowered Century Aluminum from a hold rating to a sell rating in a research note on Friday, May 3rd. BMO Capital Markets dropped their price target on Century Aluminum from $17.00 to $15.00 and set a market perform rating on the stock in a research note on Friday.

Century Aluminum Trading Down 2.5 %

NASDAQ CENX traded down $0.32 during trading on Friday, reaching $12.61. 2,078,400 shares of the stock traded hands, compared to its average volume of 1,448,289. The company has a quick ratio of 0.63, a current ratio of 1.67 and a debt-to-equity ratio of 0.77. Century Aluminum has a fifty-two week low of $5.70 and a fifty-two week high of $21.37. The stock’s 50-day moving average price is $16.31 and its 200 day moving average price is $15.01. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 5.78 and a beta of 2.52.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). Century Aluminum had a net margin of 10.72% and a return on equity of 4.27%. The firm had revenue of $560.80 million during the quarter, compared to analyst estimates of $530.90 million. Analysts predict that Century Aluminum will post 0.62 EPS for the current year.

Insider Buying and Selling at Century Aluminum

In related news, CEO Jesse E. Gary sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $16.21, for a total transaction of $972,600.00. Following the transaction, the chief executive officer now directly owns 62,447 shares of the company’s stock, valued at $1,012,265.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CENX. American Century Companies Inc. increased its holdings in Century Aluminum by 30.4% in the 2nd quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock valued at $19,870,000 after buying an additional 276,304 shares during the period. Texas Permanent School Fund Corp increased its stake in Century Aluminum by 102.9% in the second quarter. Texas Permanent School Fund Corp now owns 91,886 shares of the industrial products company’s stock valued at $1,539,000 after acquiring an additional 46,598 shares during the last quarter. Quest Partners LLC raised its position in Century Aluminum by 104.1% during the second quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 1,385 shares in the last quarter. Rhumbline Advisers lifted its stake in Century Aluminum by 4.4% during the second quarter. Rhumbline Advisers now owns 162,798 shares of the industrial products company’s stock worth $2,727,000 after purchasing an additional 6,886 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Century Aluminum by 43.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,242 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 4,598 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.