Century Aluminum (NASDAQ:CENX) Stock Price Down 5.1% - Here's What Happened

Key Points

• Shares fell 5.1% on Tuesday, last trading around $64.45 after hitting $65.72 intraday, on sharply reduced volume (~253,785 shares, down about 89% from the ~2.41M daily average).
• Wall Street sentiment is mixed-to-positive with a consensus "Moderate Buy" rating, three Buy vs. two Hold ratings and a consensus price target of $76.67 (B. Riley raised its target to $86 and BMO set $75).
• Significant insider selling has occurred recently — insiders sold 401,626 shares worth roughly $20.85 million over the last 90 days, and insiders now own about 0.76% of the company.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) shares fell 5.1% on Tuesday . The stock traded as low as $65.72 and last traded at $64.4510. Approximately 253,785 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,413,764 shares. The stock had previously closed at $67.94.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CENX. BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the stock an "outperform" rating in a research report on Thursday, April 9th. Zacks Research cut Century Aluminum from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Aluminum in a report on Wednesday, January 21st. Wall Street Zen upgraded Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, B. Riley Financial raised their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.67.

Century Aluminum Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98. The company has a fifty day moving average price of $54.36 and a 200 day moving average price of $41.78. The company has a market capitalization of $6.32 billion, a P/E ratio of 159.81 and a beta of 1.99.

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 analysts' consensus estimates of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The business had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The business's revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Insider Activity

In other Century Aluminum news, EVP John Dezee sold 66,000 shares of the business's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the completion of the transaction, the executive vice president directly owned 97,647 shares of the company's stock, valued at $4,952,655.84. The trade was a 40.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matt Aboud sold 12,126 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $52.50, for a total transaction of $636,615.00. Following the completion of the transaction, the senior vice president owned 67,814 shares of the company's stock, valued at approximately $3,560,235. This trade represents a 15.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 401,626 shares of company stock worth $20,847,911 over the last ninety days. Insiders own 0.76% of the company's stock.

Hedge Funds Weigh In On Century Aluminum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in Century Aluminum during the 4th quarter valued at $28,000. Transamerica Financial Advisors LLC acquired a new position in shares of Century Aluminum during the fourth quarter valued at $40,000. Advisory Services Network LLC bought a new stake in shares of Century Aluminum during the third quarter valued at about $34,000. 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 worth $47,000 after purchasing an additional 386 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Century Aluminum by 68.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,218 shares of the industrial products company's stock valued at $48,000 after buying an additional 497 shares in the last quarter. 61.59% of the stock is owned by institutional investors.

Century Aluminum Company Profile

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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