ANTIPODES PARTNERS Ltd Makes New $16.61 Million Investment in Century Aluminum Company $CENX

Key Points

• ANTIPODES PARTNERS Ltd opened a new position in Century Aluminum during the fourth quarter, buying 423,789 shares valued at about $16.61 million. The stake represented roughly 0.45% of the company.
• Several other institutional investors also adjusted their holdings, and institutions now own 61.59% of Century Aluminum’s stock. Meanwhile, insiders have been selling shares, including CEO Jesse E. Gary’s sale of 150,000 shares.
• Century Aluminum shares were reported down 7.5% to $56.82, while analysts remain generally bullish with a Buy consensus and an average price target of $80. The company recently posted earnings in line with expectations, though revenue came in below estimates.

ANTIPODES PARTNERS Ltd acquired a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 423,789 shares of the industrial products company's stock, valued at approximately $16,605,000. ANTIPODES PARTNERS Ltd owned 0.45% of Century Aluminum at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in shares of Century Aluminum by 26.3% in the 3rd quarter. CWM LLC now owns 1,592 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 332 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Century Aluminum by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company's stock valued at $486,000 after acquiring an additional 411 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Century Aluminum by 1.5% during the 4th quarter. State of Alaska Department of Revenue now owns 30,604 shares of the industrial products company's stock valued at $1,198,000 after acquiring an additional 441 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Century Aluminum by 0.8% during the 3rd quarter. Algert Global LLC now owns 53,943 shares of the industrial products company's stock valued at $1,584,000 after acquiring an additional 450 shares in the last quarter. Finally, Sei Investments Co. boosted 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 acquiring an additional 509 shares in the last quarter. Institutional investors own 61.59% of the company's stock.

Insider Transactions at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 2,971 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.67, for a total transaction of $156,482.57. Following the sale, the senior vice president owned 64,843 shares in the company, valued at $3,415,280.81. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jesse E. Gary sold 150,000 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.47, for a total value of $8,320,500.00. Following the sale, the chief executive officer owned 142,580 shares in the company, valued at $7,908,912.60. The trade was a 51.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 251,626 shares of company stock worth $13,619,411. Company insiders own 0.84% of the company's stock.

Century Aluminum Trading Down 7.5%

Shares of CENX stock opened at $56.82 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30. Century Aluminum Company has a 52-week low of $15.13 and a 52-week high of $68.69. The company has a market capitalization of $5.62 billion, a PE ratio of 16.96 and a beta of 1.91. The business's fifty day moving average is $58.94 and its 200 day moving average is $46.44.

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

Wall Street Analyst Weigh In

Several research analysts have commented on CENX shares. B. Riley Financial lifted their target price on Century Aluminum from $68.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. BMO Capital Markets set a $75.00 target price on Century Aluminum and gave the stock an "outperform" rating in a report on Thursday, April 9th. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Weiss Ratings raised Century Aluminum from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday. Finally, Wall Street Zen raised Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, Century Aluminum currently has a consensus rating of "Buy" and an average target price of $80.00.

Century Aluminum 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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