Boston Partners Acquires Shares of 393,924 Century Aluminum Company $CENX

Key Points

• Boston Partners has acquired 393,924 shares of Century Aluminum Company, valued at approximately $7.3 million, representing a 0.42% ownership stake.
• Several institutional investors have also increased their stakes in Century Aluminum, including Caitong International Asset Management, which boosted its position by 261.8%.
• Despite strong revenue results of $628.1 million for the quarter, Century Aluminum reported a loss of ($0.05) earnings per share, missing analysts' expectations.

Boston Partners bought a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 393,924 shares of the industrial products company's stock, valued at approximately $7,309,000. Boston Partners owned approximately 0.42% of Century Aluminum at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Century Aluminum by 261.8% during the 1st 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 boosted its stake in Century Aluminum by 13.1% during the first quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock valued at $101,000 after buying an additional 628 shares in the last quarter. Corton Capital Inc. acquired a new position in Century Aluminum during the fourth quarter worth about $189,000. Vise Technologies Inc. acquired a new position in Century Aluminum during the fourth quarter worth about $225,000. Finally, Dark Forest Capital Management LP raised its position in Century Aluminum by 19.5% in the fourth quarter. Dark Forest Capital Management LP now owns 14,899 shares of the industrial products company's stock worth $271,000 after acquiring an additional 2,430 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Matt Aboud sold 12,027 shares of the business'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 sale, the senior vice president owned 62,589 shares in the company, valued at $1,456,446.03. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Century Aluminum Trading Up 2.4%

Shares of CENX stock traded up $0.5360 during trading hours on Friday, reaching $22.5060. 269,669 shares of the stock traded hands, compared to its average volume of 1,663,281. Century Aluminum Company has a 1-year low of $11.63 and a 1-year high of $25.39. The business has a fifty day moving average price of $20.37 and a 200 day moving average price of $18.69. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.10 billion, a PE ratio of 19.41 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The firm had revenue of $628.10 million for the quarter, compared to analyst estimates of $606.10 million. On average, equities research analysts forecast that Century Aluminum Company will post 2.76 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CENX. BMO Capital Markets restated an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. B. Riley increased their target price on shares of Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Wall Street Zen lowered shares of Century Aluminum from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $24.67.

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.