Century Aluminum Company $CENX Stock Bought by CenterBook Partners LP

Key Points

• CenterBook Partners LP increased its Century Aluminum stake by 174.5% in the third quarter, adding 49,475 shares to hold 77,831 shares worth about $2.8 million. Institutional investors collectively own 61.59% of the company.
• Century Aluminum’s third-quarter revenue rose 52% year over year to $961.2 million, with shipments boosted by the restart of its Iceland smelter. Adjusted EPS of $2.58 fell short of the $2.67 analyst consensus, amid power and operating-cost pressures.
• Analysts give the stock a consensus Moderate Buy rating and an average $61 price target; several firms recently lowered their targets, including Wells Fargo, which cut its target to $71 while maintaining an Overweight rating.

CenterBook Partners LP increased its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 174.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 77,831 shares of the industrial products company's stock after buying an additional 49,475 shares during the quarter. CenterBook Partners LP owned about 0.08% of Century Aluminum worth $2,800,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in shares of Century Aluminum by 74.6% during the third quarter. Commonwealth Equity Services LLC now owns 14,375 shares of the industrial products company's stock valued at $517,000 after purchasing an additional 6,142 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Century Aluminum by 20.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,363 shares of the industrial products company's stock valued at $553,000 after purchasing an additional 2,600 shares during the period. Vise Technologies Inc. bought a new position in Century Aluminum during the third quarter valued at approximately $242,000. State of Wyoming boosted its holdings in Century Aluminum by 68.9% in the third quarter. State of Wyoming now owns 5,590 shares of the industrial products company's stock worth $201,000 after purchasing an additional 2,281 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Century Aluminum by 23.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,000 shares of the industrial products company's stock worth $1,007,000 after purchasing an additional 5,300 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum News Roundup

Here are the key news stories impacting Century Aluminum this week:

• Positive Sentiment: Shipments rose about 33% sequentially to 173,483 tonnes, aided by the restart of the company’s Iceland smelter. Revenue increased 52% year over year to $961.2 million, while reported diluted EPS was $2.89, up from $0.56 a year earlier. Century Aluminum Q3 results
• Positive Sentiment: Quarterly revenue exceeded analyst estimates, and the production recovery could support further sales growth if operating conditions remain favorable. Iceland smelter restart and Q3 performance
• Neutral Sentiment: Wells Fargo lowered its price target from $79 to $71 but kept an Overweight rating, indicating continued optimism despite a more cautious valuation. Wells Fargo rating and target
• Negative Sentiment: Adjusted EPS was $2.58, below the cited analyst consensus of $2.67. Reports attributed pressure to power and operating costs, tempering the strong shipment and revenue figures. Q3 results and cost pressures

Century Aluminum Price Performance

Shares of NASDAQ:CENX opened at $33.47 on Friday. The firm's 50 day moving average price is $37.87 and its 200-day moving average price is $49.41. Century Aluminum Company has a twelve month low of $25.40 and a twelve month high of $70.43. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.31 billion, a PE ratio of 3.92 and a beta of 2.17.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.67 by ($0.09). The business had revenue of $961.20 million during the quarter, compared to analysts' expectations of $951.71 million. Century Aluminum had a return on equity of 53.12% and a net margin of 29.74%. The business's quarterly revenue was up 52.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Equities research analysts expect that Century Aluminum Company will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CENX. Wells Fargo & Company cut their target price on shares of Century Aluminum from $79.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday. Barclays assumed coverage on Century Aluminum in a report on Wednesday, October 14th. They set an "equal weight" rating and a $40.00 price target on the stock. B. Riley Financial dropped their price target on Century Aluminum from $72.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, November 3rd. UBS Group cut their price objective on Century Aluminum from $60.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Century Aluminum in a report on Monday, October 19th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $61.00.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum's operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.

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