Century Aluminum Company $CENX Shares Newly Purchased by Penn Capital Management Company LLC

Key Points

• Penn Capital Management initiated a Century Aluminum position, buying 249,058 shares worth about $8.98 million, or 0.25% of the company. Institutional investors collectively own 61.59% of its shares.
• Analysts have a Moderate Buy consensus, with an average price target of $60.80; several firms recently lowered their targets, including Wells Fargo to $71 and B. Riley to $64.
• In its latest quarter, Century Aluminum reported EPS of $2.58, below the $2.67 consensus, while revenue of $961.2 million topped estimates and rose 52% year over year.

Penn Capital Management Company LLC bought a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 249,058 shares of the industrial products company's stock, valued at approximately $8,976,000. Penn Capital Management Company LLC owned 0.25% of Century Aluminum as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers grew its position in shares of Century Aluminum by 510.6% in the first quarter. Cetera Investment Advisers now owns 43,612 shares of the industrial products company's stock valued at $2,560,000 after purchasing an additional 36,469 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Century Aluminum during the second quarter worth approximately $2,114,000. Steamboat Capital Partners LLC lifted its holdings in Century Aluminum by 7.4% during the 2nd quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company's stock worth $13,650,000 after purchasing an additional 20,418 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Century Aluminum by 45.0% during the 2nd quarter. Wellington Management Group LLP now owns 548,898 shares of the industrial products company's stock worth $25,255,000 after purchasing an additional 170,451 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Century Aluminum during the 2nd quarter worth approximately $2,140,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CENX. Wall Street Zen downgraded Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 20th. Wells Fargo & Company lowered their price objective on Century Aluminum from $79.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday. Weiss Ratings reissued a "hold (c+)" rating on shares of Century Aluminum in a report on Monday, October 19th. B. Riley Financial reduced their target price on shares of Century Aluminum from $72.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, November 3rd. Finally, Zacks Research raised shares of Century Aluminum from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.80.

Century Aluminum Stock Up 9.4%

Shares of CENX opened at $36.62 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31. Century Aluminum Company has a 12 month low of $25.40 and a 12 month high of $70.43. The firm's 50 day moving average is $37.67 and its 200-day moving average is $49.35. The stock has a market capitalization of $3.63 billion, a PE ratio of 4.29 and a beta of 2.17.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The company had revenue of $961.20 million during the quarter, compared to the consensus estimate of $951.71 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The company's quarterly revenue was up 52.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Equities research analysts forecast that Century Aluminum Company will post 7.64 EPS for the current year.

Century Aluminum Company Profile

Century Aluminum Company is a global producer of primary aluminum, an essential material used in transportation, construction, packaging, and other industries. Its products include standard-grade and high-purity aluminum, supplied in forms such as ingots and billets for further processing by customers.

The company operates aluminum smelting facilities in the United States and Iceland. Its activities also include producing carbon anodes, which are used in the aluminum-smelting process. Century Aluminum was established in 1995 and is headquartered in Chicago, Illinois.

Century Aluminum serves customers in North America and international markets.

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