Park West Asset Management LLC Purchases Shares of 309,258 Century Aluminum Company $CENX

Key Points

• Park West Asset Management LLC invested approximately $5.74 million in Century Aluminum Company, acquiring 309,258 shares, which constitutes about 0.33% of the company's total stock.
• Several institutional investors have increased their stakes in Century Aluminum, with total institutional ownership now at 61.59%.
• Century Aluminum's recent quarterly earnings showed a loss of $0.05 per share, missing expectations, but revenue totaled $628.10 million, exceeding analyst estimates of $606.10 million.

Park West Asset Management LLC bought a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 309,258 shares of the industrial products company's stock, valued at approximately $5,740,000. Park West Asset Management LLC owned 0.33% of Century Aluminum at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CENX. Encompass Capital Advisors LLC purchased a new stake in shares of Century Aluminum in the first quarter valued at approximately $13,920,000. BW Gestao de Investimentos Ltda. acquired a new stake in Century Aluminum in the first quarter valued at $705,000. AQR Capital Management LLC boosted its position in shares of Century Aluminum by 22.1% during the 1st quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company's stock worth $724,000 after purchasing an additional 7,051 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Century Aluminum during the 1st quarter worth $4,733,000. Finally, Steamboat Capital Partners LLC increased its holdings in shares of Century Aluminum by 306.1% in the 1st quarter. Steamboat Capital Partners LLC now owns 194,978 shares of the industrial products company's stock valued at $3,619,000 after purchasing an additional 146,962 shares in the last quarter. 61.59% of the stock is owned by hedge funds and other institutional investors.

Century Aluminum Price Performance

Shares of CENX stock traded up $0.01 during trading hours on Tuesday, hitting $21.74. The company's stock had a trading volume of 1,482,958 shares, compared to its average volume of 1,242,631. 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 business has a fifty day moving average of $21.51 and a 200-day moving average of $18.88. Century Aluminum Company has a twelve month low of $11.63 and a twelve month high of $25.39. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 18.74 and a beta of 2.55.

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 company 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%. As a group, equities research analysts anticipate that Century Aluminum Company will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total value of $279,868.29. Following the transaction, the senior vice president directly owned 62,589 shares in the company, valued at approximately $1,456,446.03. This represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.68% of the company's stock.

Century Aluminum Company Profile

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.