Century Aluminum (NASDAQ:CENX) Trading Down 4.4% - Here's Why

Key Points

• Century Aluminum's stock fell 4.4% on Monday, trading as low as $22.18, with a significant drop in trading volume compared to its average session.
• Despite the recent drop, Wall Street analysts maintain growth forecasts, with B. Riley raising the target price from $24.00 to $25.00, while Wall Street Zen downgraded its rating from "buy" to "hold."
• The company's quarterly earnings report revealed a miss in earnings per share, posting ($0.05) against estimates of $0.34, although revenue exceeded expectations at $628.10 million.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) shares fell 4.4% during trading on Monday . The stock traded as low as $22.18 and last traded at $22.24. 555,861 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,681,048 shares. The stock had previously closed at $23.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CENX shares. B. Riley raised their target price on Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wall Street Zen lowered Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th.

Century Aluminum Stock Performance

The stock's 50 day moving average is $20.17 and its two-hundred day moving average is $18.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.75 and a quick ratio of 0.61. The firm has a market capitalization of $2.08 billion, a P/E ratio of 19.23 and a beta of 2.53.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). The firm had revenue of $628.10 million for the quarter, compared to analyst estimates of $606.10 million. Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%. As a group, equities analysts anticipate that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Activity at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total transaction of $279,868.29. Following the transaction, the senior vice president directly owned 62,589 shares in the company, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is currently owned by insiders.

Institutional Trading of Century Aluminum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Century Aluminum by 12.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company's stock worth $80,000 after acquiring an additional 506 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Century Aluminum by 2.5% during the 2nd quarter. Sei Investments Co. now owns 20,926 shares of the industrial products company's stock valued at $377,000 after buying an additional 509 shares in the last quarter. GAMMA Investing LLC lifted its position in Century Aluminum by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock worth $101,000 after buying an additional 628 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Century Aluminum by 7.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,415 shares of the industrial products company's stock worth $242,000 after buying an additional 979 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Century Aluminum by 1.8% in the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company's stock worth $1,098,000 after acquiring an additional 1,069 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Company Profile

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.

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