Senator Investment Group LP Buys New Shares in Century Aluminum Company $CENX

Key Points

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Senator Investment Group LP acquired a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 68,991 shares of the industrial products company's stock, valued at approximately $1,280,000. Senator Investment Group LP owned approximately 0.07% of Century Aluminum as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Glencore plc bought a new stake in Century Aluminum during the 4th quarter worth approximately $729,427,000. Dimensional Fund Advisors LP increased its holdings in Century Aluminum by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,937,970 shares of the industrial products company's stock worth $53,531,000 after purchasing an additional 28,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Century Aluminum by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,067,234 shares of the industrial products company's stock worth $37,665,000 after purchasing an additional 111,203 shares in the last quarter. Nuveen LLC bought a new stake in Century Aluminum during the 1st quarter worth approximately $14,726,000. Finally, Wellington Management Group LLP increased its holdings in Century Aluminum by 68.6% during the 1st quarter. Wellington Management Group LLP now owns 693,752 shares of the industrial products company's stock worth $12,876,000 after purchasing an additional 282,163 shares in the last quarter. 61.59% of the stock is owned by institutional investors.

Century Aluminum Stock Performance

Shares of CENX stock traded up $0.24 during trading on Friday, hitting $22.21. The company's stock had a trading volume of 1,884,674 shares, compared to its average volume of 1,498,767. Century Aluminum Company has a 52 week low of $11.63 and a 52 week high of $25.39. 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 $20.43 and a 200-day moving average of $18.72. The company has a market cap of $2.07 billion, a PE ratio of 19.15 and a beta of 2.53.

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

Insider Buying and Selling

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 transaction, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

CENX has been the subject of a number of recent research reports. BMO Capital Markets reissued an "outperform" rating on shares of Century Aluminum in a report on Friday, August 8th. B. Riley upped their target price on Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, August 8th. Zacks Research raised Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Finally, Wall Street Zen lowered 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 issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $24.67.

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.