Kinetic Partners Management LP Invests $35.74 Million in Century Aluminum Company $CENX

Kinetic Partners Management LP bought a new stake in shares of Century Aluminum Company (NASDAQ:CENX) in the second quarter, Holdings Channel.com reports. The fund bought 776,700 shares of the industrial products company’s stock, valued at approximately $35,736,000. Century Aluminum accounts for 0.9% of Kinetic Partners Management LP’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Century Aluminum in the 1st quarter valued at $25,000. Hollencrest Capital Management bought a new position in Century Aluminum during the first quarter worth $29,000. EverSource Wealth Advisors LLC lifted its holdings in Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares during the period. Advisory Services Network LLC bought a new stake in Century Aluminum during the third quarter valued at $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Century Aluminum during the second quarter valued at $37,000. Institutional investors own 61.59% of the company’s stock.

Century Aluminum Stock Performance

Shares of Century Aluminum stock opened at $44.20 on Wednesday. Century Aluminum Company has a 52 week low of $20.91 and a 52 week high of $70.43. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $46.01 and a 200-day moving average price of $53.81. The company has a market cap of $4.38 billion, a PE ratio of 7.63 and a beta of 1.96.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. The business had revenue of $752.10 million during the quarter, compared to analyst estimates of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.Century Aluminum’s revenue was up 59.0% compared to the same quarter last year. Equities analysts anticipate that Century Aluminum Company will post 8.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on CENX shares. Weiss Ratings lowered Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Wall Street Zen cut Century Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. UBS Group began coverage on Century Aluminum in a report on Monday, August 10th. They issued a “buy” rating and a $60.00 target price for the company. B. Riley Financial reissued a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Finally, Zacks Research cut Century Aluminum from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.