Royce & Associates LP Invests $4.36 Million in Century Aluminum Company $CENX

Key Points

• Royce & Associates bought 148,460 shares of Century Aluminum in Q3, a new stake valued at about $4.36 million that represented roughly 0.16% of the company at the end of the period.
• Company insiders have been net sellers recently — CEO Jesse E. Gary sold 150,000 shares (~$7.23M) and EVP John Dezee sold 66,000 shares (~$3.35M), with insiders offloading 231,097 shares (~$11.37M) in the past 90 days and now owning 0.76% of the stock.
• Shares trade around $53.43 with a 52-week range of $13.05–$56.96 and a market cap near $4.99 billion, and analysts have a consensus "Buy" rating with a target price of about $54.33 (Wells Fargo's target is $61).

Royce & Associates LP acquired a new stake in Century Aluminum Company (NASDAQ:CENX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 148,460 shares of the industrial products company's stock, valued at approximately $4,359,000. Royce & Associates LP owned approximately 0.16% of Century Aluminum at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its holdings in Century Aluminum by 26.3% in the third quarter. CWM LLC now owns 1,592 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 332 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Century Aluminum by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company's stock worth $486,000 after buying an additional 411 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Century Aluminum by 12.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 506 shares during the last quarter. Sei Investments Co. increased its holdings in Century Aluminum by 2.5% during the 2nd quarter. Sei Investments Co. now owns 20,926 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 509 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Century Aluminum by 3.7% during the 3rd quarter. Amalgamated Bank now owns 15,376 shares of the industrial products company's stock valued at $451,000 after acquiring an additional 548 shares in the last quarter. 61.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Century Aluminum

In other news, EVP John Dezee sold 66,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 97,647 shares in the company, valued at $4,952,655.84. This represents a 40.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jesse E. Gary sold 150,000 shares of the business's stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $48.19, for a total transaction of $7,228,500.00. Following the completion of the sale, the chief executive officer owned 292,580 shares of the company's stock, valued at approximately $14,099,430.20. The trade was a 33.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 231,097 shares of company stock worth $11,369,118 in the last 90 days. 0.76% of the stock is owned by company insiders.

Century Aluminum Trading Up 1.0%

Shares of CENX opened at $53.43 on Thursday. Century Aluminum Company has a fifty-two week low of $13.05 and a fifty-two week high of $56.96. The company has a market capitalization of $4.99 billion, a PE ratio of 133.58 and a beta of 2.17. The stock has a fifty day moving average of $47.59 and a two-hundred day moving average of $35.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.97.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.25. The business had revenue of $633.70 million for the quarter, compared to analysts' expectations of $661.63 million. Century Aluminum had a return on equity of 5.55% and a net margin of 1.65%.The business's revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, analysts forecast that Century Aluminum Company will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. Wells Fargo & Company upped their target price on Century Aluminum from $46.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, January 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Century Aluminum in a research report on Wednesday, January 21st. BMO Capital Markets boosted their price target on Century Aluminum from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, November 7th. Finally, Wall Street Zen raised Century Aluminum from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. One research 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, the stock has a consensus rating of "Buy" and a consensus target price of $54.33.

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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