Sigma Planning Corp Buys New Position in Century Aluminum Company $CENX

Key Points

• Sigma Planning Corp opened a new position in Century Aluminum in the fourth quarter, buying 31,870 shares worth about $1.25 million as institutional ownership stands at roughly 61.59%.
• Several analysts have raised ratings and targets recently—Century Aluminum has an average rating of "Moderate Buy" with an average price target of $79.33 following multiple upgrades and price-target increases.
• Company insiders have been net sellers, offloading 251,626 shares (about $13.6 million) over the past three months, while insiders now own just 0.84% of the stock.

Sigma Planning Corp bought a new stake in Century Aluminum Company (NASDAQ:CENX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 31,870 shares of the industrial products company's stock, valued at approximately $1,249,000.

A number of other large investors also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of Century Aluminum by 22.1% in the first quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company's stock valued at $724,000 after acquiring an additional 7,051 shares during the period. Jones Financial Companies Lllp bought a new position in Century Aluminum during the first quarter worth $25,000. Empowered Funds LLC raised its stake in Century Aluminum by 1.8% during the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company's stock valued at $1,098,000 after purchasing an additional 1,069 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Century Aluminum by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company's stock valued at $2,301,000 after purchasing an additional 21,702 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Century Aluminum by 7.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company's stock valued at $2,650,000 after purchasing an additional 9,721 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CENX. Wells Fargo & Company boosted their price objective on shares of Century Aluminum from $69.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Wall Street Zen raised Century Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Zacks Research lowered Century Aluminum from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. BMO Capital Markets set a $75.00 price target on Century Aluminum and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, B. Riley Financial raised their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $79.33.

Insider Buying and Selling

In other news, CAO Robert F. Hoffman sold 10,529 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total value of $594,993.79. Following the sale, the chief accounting officer owned 56,643 shares of the company's stock, valued at approximately $3,200,895.93. This represents a 15.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Dezee sold 66,000 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the sale, the executive vice president owned 97,647 shares of the company's stock, valued at $4,952,655.84. This trade represents a 40.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 251,626 shares of company stock valued at $13,619,411. 0.84% of the stock is owned by insiders.

Century Aluminum Stock Performance

Shares of CENX stock opened at $58.98 on Monday. The firm has a fifty day moving average of $57.38 and a 200-day moving average of $44.67. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 147.45 and a beta of 1.91. Century Aluminum Company has a 52-week low of $14.77 and a 52-week high of $68.69. 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 (NASDAQ:CENX - Get Free Report) last issued its earnings results 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 net margin of 1.65% and a return on equity of 5.57%. The business had revenue of $633.70 million for the quarter, compared to analyst estimates of $661.63 million. During the same period in the previous year, the business earned $0.49 EPS. The firm's revenue was up .4% on a year-over-year basis. On average, equities research analysts forecast that Century Aluminum Company will post 10.3 earnings per share for the current fiscal year.

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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