40,973 Shares in Century Aluminum Company $CENX Purchased by Legato Capital Management LLC

Key Points

• Legato Capital Management opened a new position in Century Aluminum, buying 40,973 shares valued at about $1.605 million in the fourth quarter.
• Institutional ownership remains high, with hedge funds and other investors holding 61.59% of the company’s stock, while several other firms also recently increased or initiated stakes.
• Analyst sentiment is mostly bullish: Century Aluminum has a Buy consensus rating and a consensus price target of $80, with recent upgrades from Zacks Research, Wall Street Zen, Weiss Ratings, and others.

Legato Capital Management LLC acquired a new position in Century Aluminum Company (NASDAQ:CENX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,973 shares of the industrial products company's stock, valued at approximately $1,605,000.

Other institutional investors have also bought and sold shares of the company. Convergence Investment Partners LLC acquired a new stake in Century Aluminum in the third quarter worth about $942,000. Principal Financial Group Inc. lifted its holdings in Century Aluminum by 35.4% in the third quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company's stock worth $10,301,000 after purchasing an additional 91,647 shares during the period. Drummond Knight Asset Management Pty Ltd acquired a new stake in Century Aluminum in the fourth quarter worth about $12,278,000. Glencore plc lifted its holdings in Century Aluminum by 33.6% in the 4th quarter. Glencore plc now owns 53,511,894 shares of the industrial products company's stock valued at $2,096,596,000 after acquiring an additional 13,454,538 shares during the last quarter. Finally, SummerHaven Investment Management LLC acquired a new stake in Century Aluminum in the 3rd quarter valued at about $1,277,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Analyst Ratings Changes

CENX has been the subject of a number of research analyst reports. Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Wall Street Zen raised shares of Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Weiss Ratings raised shares of Century Aluminum from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Wells Fargo & Company upped their price target on shares of Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Finally, BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the company an "outperform" rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat.com, Century Aluminum has a consensus rating of "Buy" and a consensus price target of $80.00.

Insider Buying and Selling

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 stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the sale, the executive vice president owned 97,647 shares in the company, valued at approximately $4,952,655.84. The trade was a 40.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matt Aboud sold 2,971 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.67, for a total value of $156,482.57. Following the sale, the senior vice president owned 64,843 shares in the company, valued at approximately $3,415,280.81. The trade was a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 251,626 shares of company stock worth $13,619,411 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Century Aluminum Price Performance

NASDAQ CENX opened at $65.05 on Friday. The stock's 50-day moving average price is $59.42 and its two-hundred day moving average price is $47.49. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The company has a market cap of $6.44 billion, a PE ratio of 19.42 and a beta of 1.91. Century Aluminum Company has a 1 year low of $15.13 and a 1 year high of $68.69.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.25. The firm had revenue of $633.70 million for the quarter, compared to the consensus estimate of $661.63 million. Century Aluminum had a return on equity of 13.59% and a net margin of 13.75%.The business's revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. On average, analysts predict that Century Aluminum Company will post 10.3 EPS for the current year.

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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