Century Aluminum (NASDAQ:CENX) Sets New 1-Year High – Here’s What Happened

Shares of Century Aluminum Company (NASDAQ:CENX) reached a new 52-week high during trading on Monday . The company traded as high as $59.84 and last traded at $55.8830, with a volume of 774842 shares. The stock had previously closed at $49.65.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. B. Riley Financial lifted their price target on shares of Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Wells Fargo & Company raised their price objective on Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Century Aluminum has an average rating of “Buy” and a consensus price target of $57.00.

Century Aluminum Price Performance

The company has a market capitalization of $5.41 billion, a P/E ratio of 136.77 and a beta of 2.17. The business’s 50-day moving average price is $50.88 and its 200 day moving average price is $38.90. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates 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 5.57% and a net margin of 1.65%.The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Analysts anticipate that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling at Century Aluminum

In related news, EVP John Dezee sold 66,000 shares of the stock in a transaction on 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 owned 97,647 shares of the company’s stock, valued at approximately $4,952,655.84. This trade represents a 40.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert F. Hoffman sold 10,529 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $56.51, for a total transaction of $594,993.79. Following the completion of the sale, the chief accounting officer directly owned 56,643 shares of the company’s stock, valued at $3,200,895.93. This represents a 15.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 401,626 shares of company stock valued at $20,847,911. Insiders own 0.76% of the company’s stock.

Institutional Trading of Century Aluminum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum during the first quarter valued at approximately $25,000. Private Trust Co. NA purchased a new position in shares of Century Aluminum in the fourth quarter worth $28,000. EverSource Wealth Advisors LLC raised its holdings in Century Aluminum by 253.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Century Aluminum during the 3rd quarter valued at $34,000. Finally, Transamerica Financial Advisors LLC bought a new stake in Century Aluminum in the 4th quarter worth $40,000. Institutional investors own 61.59% of the company’s stock.

About Century Aluminum

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.