Adage Capital Partners GP L.L.C. Buys Shares of 255,000 Century Aluminum Company $CENX

Adage Capital Partners GP L.L.C. acquired a new stake in Century Aluminum Company (NASDAQ:CENX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 255,000 shares of the industrial products company's stock, valued at approximately $4,733,000. Adage Capital Partners GP L.L.C. owned 0.27% of Century Aluminum as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CENX. Caitong International Asset Management Co. Ltd increased its holdings in Century Aluminum by 261.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 2,909 shares during the period. GAMMA Investing LLC grew its holdings in Century Aluminum by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock worth $101,000 after acquiring an additional 628 shares during the period. AlphaQuest LLC grew its holdings in Century Aluminum by 177.6% during the 1st quarter. AlphaQuest LLC now owns 6,970 shares of the industrial products company's stock worth $129,000 after acquiring an additional 4,459 shares during the period. Vise Technologies Inc. acquired a new stake in Century Aluminum during the 4th quarter worth about $225,000. Finally, ProShare Advisors LLC grew its holdings in Century Aluminum by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 15,893 shares of the industrial products company's stock worth $290,000 after acquiring an additional 4,896 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Stock Performance

Shares of CENX traded up $1.66 on Thursday, reaching $24.03. 1,352,790 shares of the company's stock traded hands, compared to its average volume of 1,647,512. The stock's 50 day simple moving average is $21.58 and its two-hundred day simple moving average is $18.90. The stock has a market cap of $2.24 billion, a PE ratio of 20.68 and a beta of 2.55. Century Aluminum Company has a 52-week low of $12.90 and a 52-week high of $25.39. The company has a current ratio of 1.75, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.39). Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The business had revenue of $628.10 million during the quarter, compared to analysts' expectations of $606.10 million. On average, analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Matt Aboud sold 12,027 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total transaction of $279,868.29. Following the completion of the sale, the senior vice president owned 62,589 shares in the company, valued at $1,456,446.03. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on CENX shares. B. Riley increased their price target on Century Aluminum from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday. Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. BMO Capital Markets restated an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded Century Aluminum from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, Century Aluminum presently has an average rating of "Buy" and a consensus target price of $25.67.

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.