Kinetic Partners Management LP Takes $35.74 Million Position in Century Aluminum Company $CENX

Key Points

• Kinetic Partners Management acquired 776,700 Century Aluminum shares worth approximately $35.74 million, giving it a 0.78% stake and making CENX its 24th-largest holding.
• Century Aluminum reported quarterly EPS of $2.46, beating estimates of $2.33, while revenue rose 59% year over year to $752.1 million but fell short of the $817.15 million consensus.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $72 target price, despite ratings ranging from strong sell to buy.

Kinetic Partners Management LP bought a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 776,700 shares of the industrial products company's stock, valued at approximately $35,736,000. Century Aluminum comprises approximately 0.9% of Kinetic Partners Management LP's holdings, making the stock its 24th largest position. Kinetic Partners Management LP owned 0.78% of Century Aluminum as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CENX. Lido Advisors LLC increased its stake in shares of Century Aluminum by 1.4% during the first quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company's stock worth $768,000 after purchasing an additional 180 shares during the period. Summit Global Investments boosted its stake in Century Aluminum by 3.2% in the 1st quarter. Summit Global Investments now owns 7,866 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Century Aluminum by 26.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company's stock valued at $83,000 after buying an additional 297 shares in the last quarter. ProShare Advisors LLC grew its holdings in Century Aluminum by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company's stock valued at $402,000 after buying an additional 308 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Century Aluminum by 48.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company's stock worth $47,000 after buying an additional 386 shares during the period. Institutional investors own 61.59% of the company's stock.

Century Aluminum Trading Up 1.2%

Shares of CENX stock opened at $44.20 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.38 billion, a P/E ratio of 7.63 and a beta of 1.96. Century Aluminum Company has a twelve month low of $20.91 and a twelve month high of $70.43. The stock's fifty day simple moving average is $46.01 and its 200 day simple moving average is $53.81.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The company 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. As a group, sell-side analysts predict that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CENX. UBS Group began coverage on shares of Century Aluminum in a research report on Monday, August 10th. They set a "buy" rating and a $60.00 target price on the stock. Weiss Ratings downgraded shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 21st. Zacks Research cut Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Wells Fargo & Company increased their price target on Century Aluminum from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, B. Riley Financial restated a "buy" rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Century Aluminum has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Century Aluminum 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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