PFG Advisors Takes $761,000 Position in Century Aluminum Company $CENX

Key Points

• PFG Advisors bought a new stake of 25,911 shares in Century Aluminum (NASDAQ:CENX) in Q3, valued at approximately $761,000.
• Wall Street sentiment has turned positive recently, with several firms raising ratings and targets (e.g., B. Riley to $68, Wells Fargo to $61), leaving CENX with an average analyst rating of Buy and an average target price of $54.33.
• Company insiders sold a total of 241,097 shares worth about $11.93 million over the last three months, leaving insiders with just 0.76% ownership.

PFG Advisors purchased a new stake in Century Aluminum Company (NASDAQ:CENX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,911 shares of the industrial products company's stock, valued at approximately $761,000.

A number of other large investors have also added to or reduced their stakes in CENX. Convergence Investment Partners LLC acquired a new position in Century Aluminum in the 3rd quarter valued at $942,000. New Century Financial Group LLC acquired a new stake in shares of Century Aluminum during the 3rd quarter worth $987,000. Campbell & CO Investment Adviser LLC increased its position in shares of Century Aluminum by 620.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company's stock worth $4,203,000 after purchasing an additional 123,285 shares during the period. SummerHaven Investment Management LLC bought a new position in shares of Century Aluminum in the third quarter worth $1,277,000. Finally, Principal Financial Group Inc. raised its stake in Century Aluminum by 35.4% in the third quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company's stock valued at $10,301,000 after purchasing an additional 91,647 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CENX. B. Riley Financial upped their price objective on shares of Century Aluminum from $64.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Wells Fargo & Company boosted their target price on shares of Century Aluminum from $46.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, January 13th. Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Aluminum in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Century Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Century Aluminum currently has an average rating of "Buy" and an average target price of $54.33.

Insider Activity at Century Aluminum

In other news, CAO Robert F. Hoffman sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $56.33, for a total value of $563,300.00. Following the sale, the chief accounting officer directly owned 67,172 shares in the company, valued at approximately $3,783,798.76. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Dezee sold 66,000 shares of Century Aluminum stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the sale, the executive vice president directly owned 97,647 shares in the company, valued at $4,952,655.84. This trade represents a 40.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 241,097 shares of company stock worth $11,932,418 over the last three months. 0.76% of the stock is owned by insiders.

Century Aluminum Price Performance

Century Aluminum stock opened at $58.07 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. Century Aluminum Company has a 52 week low of $13.05 and a 52 week high of $58.10. The stock has a market capitalization of $5.75 billion, a P/E ratio of 145.18 and a beta of 2.17. The stock has a fifty day moving average of $49.11 and a 200-day moving average of $36.29.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The business had revenue of $633.70 million for the quarter, compared to analyst estimates of $661.63 million. During the same period last year, the firm posted $0.49 earnings per share. Century Aluminum's revenue was up .4% compared to the same quarter last year. On average, sell-side analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

About Century Aluminum

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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