Insight Wealth Strategies LLC Increases Stake in Century Aluminum Company $CENX

Key Points

• Insight Wealth Strategies increased its Century Aluminum stake by 29.2% in the third quarter, holding 185,329 shares valued at approximately $6.7 million. Institutional investors collectively own 61.59% of the company.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $70.75, despite several firms recently lowering targets or downgrading the stock.
• Century Aluminum’s shares recently traded at $36.51, well below their 12-month high of $70.43. The company beat quarterly earnings expectations with $2.46 EPS, while revenue rose 59% year over year to $752.1 million but fell short of estimates.

Insight Wealth Strategies LLC lifted its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 29.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,329 shares of the industrial products company's stock after buying an additional 41,857 shares during the quarter. Insight Wealth Strategies LLC owned about 0.19% of Century Aluminum worth $6,668,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Century Aluminum during the second quarter worth approximately $474,129,000. Encompass Capital Advisors LLC increased its holdings in shares of Century Aluminum by 210.4% in the first quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company's stock valued at $91,049,000 after purchasing an additional 1,051,525 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Century Aluminum by 109.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company's stock worth $107,422,000 after purchasing an additional 957,571 shares during the last quarter. Kinetic Partners Management LP acquired a new position in Century Aluminum during the 2nd quarter worth $35,736,000. Finally, Bank of America Corp DE acquired a new position in Century Aluminum during the 2nd quarter worth $27,709,000. Institutional investors own 61.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CENX. Wall Street Zen cut Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 20th. Wells Fargo & Company cut their price target on Century Aluminum from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, September 18th. UBS Group decreased their price target on Century Aluminum from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday. Weiss Ratings lowered Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.75.

Century Aluminum Trading Up 0.4%

Shares of NASDAQ:CENX traded up $0.13 during midday trading on Friday, hitting $36.51. The company had a trading volume of 344,139 shares, compared to its average volume of 2,109,428. Century Aluminum Company has a 12 month low of $25.40 and a 12 month high of $70.43. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 6.30 and a beta of 2.07. The firm has a fifty day simple moving average of $43.24 and a 200 day simple moving average of $51.32.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The business had revenue of $752.10 million during the quarter, compared to the consensus estimate of $817.15 million. The company's quarterly revenue was up 59.0% compared to the same quarter last year. On average, analysts predict that Century Aluminum Company will post 7.75 EPS for the current year.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum reduction facilities that convert alumina into aluminum metal through the electrolytic smelting process. Its products include standard-grade and value-added primary aluminum, which is supplied to manufacturers and other industrial customers.

Century Aluminum serves markets such as automotive, aerospace, construction, packaging and consumer products. Its operations have included facilities in the United States and Iceland, including smelters in Kentucky, South Carolina and at Grundartangi, Iceland.

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