Goldman Sachs Group Inc. Sells 34,918 Shares of Century Aluminum Company $CENX

Key Points

• Goldman Sachs has decreased its stake in Century Aluminum by 8.4%, holding 379,348 shares worth approximately $7.04 million as of the latest SEC filing.
• Several hedge funds have recently increased their positions in Century Aluminum, with notable increases from Woodline Partners and Wellington Management.
• Century Aluminum reported a loss of $0.05 per share in its latest earnings, missing analyst estimates, despite higher-than-expected revenue of $628.1 million for the quarter.

Goldman Sachs Group Inc. lessened its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,348 shares of the industrial products company's stock after selling 34,918 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.41% of Century Aluminum worth $7,041,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CENX. Jones Financial Companies Lllp bought a new position in shares of Century Aluminum in the first quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Century Aluminum by 261.8% in the first 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 in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Century Aluminum by 13.1% in the first 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 in the last quarter. AlphaQuest LLC lifted its holdings in shares of Century Aluminum by 177.6% in the first 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 in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Century Aluminum in the fourth quarter valued at approximately $225,000. Institutional investors own 61.59% of the company's stock.

Century Aluminum Price Performance

NASDAQ:CENX traded up $1.14 during trading hours on Friday, hitting $28.04. 935,236 shares of the company's stock traded hands, compared to its average volume of 1,657,736. The firm has a market cap of $2.62 billion, a P/E ratio of 24.13 and a beta of 2.55. Century Aluminum Company has a 52 week low of $13.05 and a 52 week high of $27.80. The business's fifty day simple moving average is $22.44 and its two-hundred day simple moving average is $19.19. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted 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 business had revenue of $628.10 million for the quarter, compared to the consensus estimate of $606.10 million. Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. On average, research analysts anticipate that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Transactions at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction dated 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 sale, the senior vice president owned 62,589 shares of the company's stock, valued at $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 is available at this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CENX. B. Riley boosted their price objective on Century Aluminum from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. BMO Capital Markets reissued an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. Finally, Wall Street Zen cut Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Century Aluminum presently has a consensus rating of "Buy" and a consensus price target of $25.67.

Century Aluminum Company 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.