Century Aluminum Company $CENX Stock Position Lowered by Mountaineer Partners Management LLC

Key Points

• Mountaineer Partners trimmed its stake in Century Aluminum by 6.3% in Q3 to 661,043 shares, leaving the stock as ~11.3% of the fund's holdings and worth roughly $19.41 million (about 0.71% of CENX).
• Insiders sold significant stock recently: CEO Jesse E. Gary sold 150,000 shares and CAO Robert F. Hoffman sold 10,529 shares, with insiders offloading 251,626 shares (~$12.53 million) in the past three months; insiders now own about 0.68% of the company.
• Analyst sentiment is mostly positive—consensus rating "Buy" with a $57 target and recent price-target increases (B. Riley $68, Wells Fargo $69)—while the stock trades near $55.65 with a $5.51 billion market cap and a 52-week range of $13.05–$59.12.

Mountaineer Partners Management LLC lessened its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 661,043 shares of the industrial products company's stock after selling 44,107 shares during the period. Century Aluminum comprises about 11.3% of Mountaineer Partners Management LLC's holdings, making the stock its largest holding. Mountaineer Partners Management LLC owned approximately 0.71% of Century Aluminum worth $19,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Convergence Investment Partners LLC bought a new stake in Century Aluminum in the third quarter valued at approximately $942,000. Campbell & CO Investment Adviser LLC grew its holdings in shares of Century Aluminum by 620.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company's stock worth $4,203,000 after purchasing an additional 123,285 shares during the last quarter. New Century Financial Group LLC purchased a new position in shares of Century Aluminum in the third quarter worth $987,000. SummerHaven Investment Management LLC purchased a new position in shares of Century Aluminum in the third quarter worth $1,277,000. Finally, Principal Financial Group Inc. raised its holdings in Century Aluminum by 35.4% during the 3rd quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company's stock valued at $10,301,000 after buying an additional 91,647 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Century Aluminum Stock Performance

NASDAQ:CENX opened at $55.65 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The firm's fifty day simple moving average is $49.99 and its 200 day simple moving average is $37.09. The stock has a market cap of $5.51 billion, a P/E ratio of 139.13 and a beta of 2.16. Century Aluminum Company has a twelve month low of $13.05 and a twelve month high of $59.12.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, hitting the consensus estimate of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The business had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. During the same period in the prior year, the business earned $0.49 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts predict that Century Aluminum Company will post 2.76 EPS for the current year.

Insider Activity at Century Aluminum

In other Century Aluminum news, CAO Robert F. Hoffman sold 10,529 shares of Century Aluminum stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $56.51, for a total transaction of $594,993.79. Following the sale, the chief accounting officer directly owned 56,643 shares of the company's stock, valued at approximately $3,200,895.93. The trade was a 15.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jesse E. Gary sold 150,000 shares of the company's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $48.19, for a total value of $7,228,500.00. Following the transaction, the chief executive officer owned 292,580 shares in the company, valued at $14,099,430.20. This trade represents a 33.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 251,626 shares of company stock valued at $12,527,411 in the last three months. Corporate insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CENX shares. Weiss Ratings reissued a "hold (c)" rating on shares of Century Aluminum in a research report on Wednesday, January 21st. B. Riley Financial upped their price objective on shares of Century Aluminum from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Wells Fargo & Company increased their target price on shares of Century Aluminum from $61.00 to $69.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Wall Street Zen upgraded Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $57.00.

Century Aluminum Company 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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