Century Aluminum Company $CENX Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Century Aluminum Company by 37.2%, selling 118,146 shares, and now holds 199,260 shares valued at approximately $3.7 million.
• Institutional ownership of Century Aluminum stands at 61.59%, with notable changes including GAMMA Investing LLC increasing its stake by 13.1% and Caitong International Asset Management growing its position by 261.8%.
• Century Aluminum reported a revenue of $628.1 million for the last quarter, missing the earnings per share estimate significantly, indicating potential challenges for the company despite an average analyst rating of "Buy."

Jacobs Levy Equity Management Inc. decreased its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,260 shares of the industrial products company's stock after selling 118,146 shares during the period. Jacobs Levy Equity Management Inc. owned 0.21% of Century Aluminum worth $3,698,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings 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 buying an additional 2,909 shares in the last quarter. GAMMA Investing LLC raised its position in 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 last quarter. AlphaQuest LLC raised its position in 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 last quarter. Vise Technologies Inc. purchased a new stake in Century Aluminum in the 4th quarter valued at $225,000. Finally, ProShare Advisors LLC raised its position in Century Aluminum by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 15,893 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 4,896 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company's stock.

Insiders Place Their Bets

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were 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 in the company, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CENX shares. Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. B. Riley upped their price target on shares of Century Aluminum from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Wall Street Zen downgraded shares of Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, BMO Capital Markets restated an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, Century Aluminum presently has a consensus rating of "Buy" and a consensus target price of $25.67.

Century Aluminum Price Performance

Shares of CENX traded up $1.57 during trading hours on Friday, reaching $26.09. The company had a trading volume of 3,394,320 shares, compared to its average volume of 1,295,130. The firm has a 50 day simple moving average of $21.83 and a 200-day simple moving average of $18.98. The company has a current ratio of 1.75, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 22.49 and a beta of 2.55. Century Aluminum Company has a 12-month low of $13.05 and a 12-month high of $26.10.

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

About Century Aluminum

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.