Vanguard Group Inc. Sells 136,540 Shares of Century Aluminum Company $CENX

Key Points

• Vanguard Group Inc. has reduced its stake in Century Aluminum Company by 2.3%, now owning approximately 5.71 million shares valued at $106 million.
• Century Aluminum reported a loss of $0.05 EPS in its recent quarterly earnings, missing the consensus estimate by $0.39, despite revenue exceeding expectations at $628.1 million.
• Several analysts have shifted their ratings on Century Aluminum, with Zacks Research upgrading it to a "strong-buy" rating, while the stock currently has an average price target of $24.67.

Vanguard Group Inc. lessened its stake in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,714,400 shares of the industrial products company's stock after selling 136,540 shares during the period. Vanguard Group Inc. owned 6.12% of Century Aluminum worth $106,059,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Alberta Investment Management Corp acquired a new position in Century Aluminum during the first quarter worth $4,918,000. Monaco Asset Management SAM acquired a new position in Century Aluminum during the first quarter worth $2,552,000. GSA Capital Partners LLP acquired a new position in Century Aluminum during the first quarter worth $1,798,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Century Aluminum by 30.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,441 shares of the industrial products company's stock worth $417,000 after buying an additional 5,182 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Century Aluminum during the first quarter worth $2,998,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Century Aluminum Stock Performance

CENX traded down $0.32 during trading on Thursday, hitting $22.38. 1,421,329 shares of the company traded hands, compared to its average volume of 1,459,868. The firm has a market cap of $2.09 billion, a P/E ratio of 19.29 and a beta of 2.53. The stock's fifty day moving average is $20.81 and its 200 day moving average is $18.81. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66. Century Aluminum Company has a one year low of $11.63 and a one year high of $25.39.

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

Analysts Set New Price Targets

Several research firms have weighed in on CENX. BMO Capital Markets restated an "outperform" rating on shares of Century Aluminum in a report on Friday, August 8th. B. Riley upped their price objective on shares of Century Aluminum from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen downgraded shares of Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $24.67.

Insiders Place Their Bets

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total transaction of $279,868.29. Following the completion of the transaction, the senior vice president owned 62,589 shares in the company, valued at $1,456,446.03. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.

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.