Polar Asset Management Partners Inc. Invests $2.20 Million in Century Aluminum (NASDAQ:CENX)

Polar Asset Management Partners Inc. bought a new position in shares of Century Aluminum (NASDAQ:CENX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 120,586 shares of the industrial products company's stock, valued at approximately $2,197,000. Polar Asset Management Partners Inc. owned approximately 0.13% of Century Aluminum as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of Century Aluminum by 159.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company's stock worth $59,000 after acquiring an additional 2,000 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Century Aluminum in the 4th quarter worth about $39,000. Wellington Management Group LLP increased its stake in Century Aluminum by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 411,589 shares of the industrial products company's stock worth $7,499,000 after buying an additional 2,358 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Century Aluminum by 2,889.3% during the fourth quarter. AlphaQuest LLC now owns 2,511 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 2,427 shares during the last quarter. Finally, Dark Forest Capital Management LP raised its holdings in shares of Century Aluminum by 19.5% during the fourth quarter. Dark Forest Capital Management LP now owns 14,899 shares of the industrial products company's stock valued at $271,000 after acquiring an additional 2,430 shares during the last quarter. 61.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CENX shares. BMO Capital Markets upgraded Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, February 24th. Wall Street Zen upgraded shares of Century Aluminum from a "sell" rating to a "hold" rating in a report on Friday, May 9th.

Century Aluminum Price Performance

Shares of NASDAQ:CENX traded down $0.27 during midday trading on Friday, hitting $15.58. The company had a trading volume of 1,225,110 shares, compared to its average volume of 1,412,032. Century Aluminum has a twelve month low of $11.40 and a twelve month high of $25.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 4.93 and a beta of 2.70. The business's 50-day simple moving average is $16.36 and its 200-day simple moving average is $18.74.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). Century Aluminum had a net margin of 14.69% and a return on equity of 13.38%. The company had revenue of $633.90 million during the quarter, compared to analyst estimates of $643.80 million. On average, research analysts predict that Century Aluminum will post 2.76 earnings per share for the current year.

Insider Activity at Century Aluminum

In other news, CAO Robert F. Hoffman sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $19.99, for a total transaction of $49,975.00. Following the completion of the sale, the chief accounting officer now owns 64,083 shares in the company, valued at $1,281,019.17. This trade represents a 3.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.76% 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.