Woodline Partners LP Takes Position in Century Aluminum Company $CENX

Key Points

• Woodline Partners LP has acquired 1,040,812 shares of Century Aluminum Company, valued at approximately $19.3 million, representing a 1.12% ownership stake in the company.
• The stock recently reported earnings with a loss of ($0.05) EPS, which fell short of the expected $0.34, although revenue of $628.1 million surpassed estimates.
• Analyst ratings are mixed, with B. Riley increasing its price target for Century Aluminum to $28.00 and Zacks upgrading the stock to a "strong-buy" rating.

Woodline Partners LP purchased a new stake in Century Aluminum Company (NASDAQ:CENX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,040,812 shares of the industrial products company's stock, valued at approximately $19,317,000. Woodline Partners LP owned about 1.12% of Century Aluminum at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Century Aluminum by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,067,234 shares of the industrial products company's stock valued at $37,665,000 after purchasing an additional 111,203 shares during the period. Nuveen LLC purchased a new stake in Century Aluminum during the 1st quarter valued at $14,726,000. Encompass Capital Advisors LLC bought a new stake in Century Aluminum in the first quarter worth $13,920,000. Wellington Management Group LLP lifted its position in Century Aluminum by 68.6% in the first quarter. Wellington Management Group LLP now owns 693,752 shares of the industrial products company's stock worth $12,876,000 after buying an additional 282,163 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Century Aluminum by 5.8% during the fourth quarter. Northern Trust Corp now owns 540,448 shares of the industrial products company's stock worth $9,847,000 after buying an additional 29,400 shares during the period. 61.59% of the stock is owned by institutional investors.

Century Aluminum Trading Up 6.4%

Century Aluminum stock traded up $1.57 during trading hours on Friday, hitting $26.09. The company had a trading volume of 3,394,320 shares, compared to its average volume of 1,295,130. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.75. The firm has a market cap of $2.44 billion, a P/E ratio of 22.49 and a beta of 2.55. The company has a 50-day moving average price of $21.83 and a two-hundred day moving average price of $18.98. Century Aluminum Company has a 1 year low of $13.05 and a 1 year high of $26.10.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CENX. B. Riley raised their target price on shares of Century Aluminum from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday. BMO Capital Markets reissued an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Wall Street Zen downgraded Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $25.67.

Insiders Place Their Bets

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 62,589 shares in the company, valued at approximately $1,456,446.03. This represents a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Century Aluminum 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.