Century Aluminum Company $CENX Stake Lifted by Impala Asset Management LLC

Key Points

• Impala Asset Management LLC increased its stake in Century Aluminum Company by 33.6%, making the stock its 3rd biggest holding at 11.2% of its portfolio.
• Century Aluminum reported a loss of $0.05 per share for the quarter, missing the consensus estimate significantly, although its revenue of $628.10 million surpassed expectations.
• Analysts have mixed ratings on Century Aluminum, with B. Riley raising its target price to $28.00, while Wall Street Zen downgraded the stock from "buy" to "hold."

Impala Asset Management LLC grew its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 33.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 932,154 shares of the industrial products company's stock after acquiring an additional 234,673 shares during the quarter. Century Aluminum comprises 11.2% of Impala Asset Management LLC's investment portfolio, making the stock its 3rd biggest holding. Impala Asset Management LLC owned about 1.00% of Century Aluminum worth $17,301,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in shares of Century Aluminum in the 1st quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Century Aluminum by 261.8% in 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 position in shares of Century Aluminum by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock valued at $101,000 after purchasing an additional 628 shares during the period. AlphaQuest LLC boosted its position in shares of Century Aluminum by 177.6% in the 1st quarter. AlphaQuest LLC now owns 6,970 shares of the industrial products company's stock valued at $129,000 after purchasing an additional 4,459 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in shares of Century Aluminum in the 4th quarter valued at about $225,000. Hedge funds and other institutional investors own 61.59% of the company's stock.

Century Aluminum Stock Performance

Shares of CENX stock opened at $22.19 on Wednesday. The stock has a fifty day moving average price of $21.51 and a 200 day moving average price of $18.88. The stock has a market cap of $2.07 billion, a PE ratio of 19.13 and a beta of 2.55. Century Aluminum Company has a 1 year low of $11.63 and a 1 year high of $25.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.75.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Century Aluminum

In related news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total transaction of $279,868.29. Following the completion of the transaction, the senior vice president directly owned 62,589 shares of the company's stock, valued at approximately $1,456,446.03. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.68% of the company's stock.

Century Aluminum Profile

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.

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