JPMorgan Chase & Co. Has $12.46 Million Holdings in Century Aluminum Company $CENX

Key Points

• JPMorgan Chase increased its stake in Century Aluminum by 188.5% in Q3 to 424,252 shares, worth about $12.46 million and representing roughly 0.45% of the company.
• Insiders have been selling heavily: CEO Jesse E. Gary sold 150,000 shares (≈$8.32M) on March 16, and insiders disposed of 401,626 shares worth about $20.85M over the last 90 days; insiders now own 0.76% of the stock.
• Research sentiment is broadly positive with an average "Buy" rating and a consensus target of $57, while firms like Wells Fargo and B. Riley have raised targets to $69 and $68 respectively.

JPMorgan Chase & Co. increased its holdings in Century Aluminum Company (NASDAQ:CENX - Free Report) by 188.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,252 shares of the industrial products company's stock after purchasing an additional 277,206 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of Century Aluminum worth $12,456,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. CWM LLC lifted its position in shares of Century Aluminum by 26.3% in the third quarter. CWM LLC now owns 1,592 shares of the industrial products company's stock worth $47,000 after buying an additional 332 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Century Aluminum by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company's stock worth $486,000 after acquiring an additional 411 shares in the last quarter. Algert Global LLC increased its holdings in shares of Century Aluminum by 0.8% during the 3rd quarter. Algert Global LLC now owns 53,943 shares of the industrial products company's stock valued at $1,584,000 after acquiring an additional 450 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Century Aluminum by 12.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 506 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Century Aluminum by 2.5% in the 2nd quarter. Sei Investments Co. now owns 20,926 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 509 shares in the last quarter. 61.59% of the stock is owned by institutional investors and hedge funds.

Century Aluminum Price Performance

Shares of NASDAQ:CENX opened at $49.65 on Friday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 124.13 and a beta of 2.17. The business has a 50 day moving average price of $50.88 and a 200 day moving average price of $38.67. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. 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 results 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 return on equity of 5.57% and a net margin of 1.65%.The company had revenue of $633.70 million for the quarter, compared to the consensus estimate of $661.63 million. During the same period in the previous year, the business posted $0.49 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. Research analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current year.

Insider Activity at Century Aluminum

In related news, CEO Jesse E. Gary sold 150,000 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the transaction, the chief executive officer owned 142,580 shares of the company's stock, valued at approximately $7,908,912.60. The trade was a 51.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Matt Aboud sold 12,126 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $52.50, for a total transaction of $636,615.00. Following the transaction, the senior vice president owned 67,814 shares of the company's stock, valued at approximately $3,560,235. The trade was a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 401,626 shares of company stock worth $20,847,911. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CENX. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Century Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Weiss Ratings restated a "hold (c)" rating on shares of Century Aluminum in a research note on Wednesday, January 21st. Wells Fargo & Company upped their price objective 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. Finally, B. Riley Financial raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Century Aluminum 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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