Century Aluminum Company $CENX Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in Century Aluminum Company (CENX) by 2.6%, selling 13,808 shares and retaining 526,640 shares valued at approximately $9.77 million.
• Institutional investors now account for 61.59% of Century Aluminum's stock, with notable increases in stakes from Price T Rowe Associates, BNP Paribas, and Balyasny Asset Management.
• The company reported a loss of ($0.05) EPS for the quarter, significantly missing the consensus estimate of $0.34, despite generating revenue of $628.10 million, exceeding expectations.

Northern Trust Corp lessened its stake in Century Aluminum Company (NASDAQ:CENX - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 526,640 shares of the industrial products company's stock after selling 13,808 shares during the period. Northern Trust Corp owned 0.56% of Century Aluminum worth $9,774,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CENX. Nuveen LLC acquired a new position in Century Aluminum in the 1st quarter valued at about $14,726,000. Boston Partners acquired a new position in Century Aluminum in the 1st quarter valued at about $7,309,000. Millennium Management LLC increased its position in Century Aluminum by 333.7% in the 4th quarter. Millennium Management LLC now owns 457,728 shares of the industrial products company's stock valued at $8,340,000 after acquiring an additional 352,186 shares during the period. Foundry Partners LLC acquired a new position in Century Aluminum in the 1st quarter valued at about $6,077,000. Finally, Nuveen Asset Management LLC increased its position in Century Aluminum by 208.3% in the 4th quarter. Nuveen Asset Management LLC now owns 413,223 shares of the industrial products company's stock valued at $7,529,000 after acquiring an additional 279,211 shares during the period. Institutional investors and hedge funds own 61.59% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CENX. B. Riley boosted their price target on Century Aluminum from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen cut Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. Finally, Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $25.67.

Century Aluminum Price Performance

Shares of CENX traded up $2.15 on Thursday, reaching $24.52. The stock had a trading volume of 2,348,206 shares, compared to its average volume of 1,249,774. The firm has a market capitalization of $2.29 billion, a PE ratio of 21.14 and a beta of 2.55. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $21.69 and a 200 day moving average of $18.94. Century Aluminum Company has a twelve month low of $12.90 and a twelve month high of $25.39.

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

Insider Buying and Selling at Century Aluminum

In related news, SVP Matt Aboud sold 12,027 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the sale, the senior vice president owned 62,589 shares in the company, valued at $1,456,446.03. This represents a 16.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

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.