Century Aluminum (NASDAQ:CENX) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

CENX has been the subject of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. B. Riley Financial increased their price target on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Wells Fargo & Company increased their price target on shares of Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Century Aluminum Price Performance

NASDAQ CENX traded down $2.31 during trading hours on Monday, hitting $63.72. 698,470 shares of the company’s stock traded hands, compared to its average volume of 2,464,887. Century Aluminum has a 52-week low of $13.05 and a 52-week high of $67.63. The company has a market capitalization of $6.31 billion, a PE ratio of 159.23 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98. The firm’s 50-day moving average is $52.84 and its 200-day moving average is $40.65.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) 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 company had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $661.63 million. During the same quarter in the prior year, the company earned $0.49 EPS. Century Aluminum’s revenue was up .4% compared to the same quarter last year. Equities analysts forecast that Century Aluminum will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, EVP John Dezee sold 66,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $50.72, for a total value of $3,347,520.00. Following the completion of the sale, the executive vice president owned 97,647 shares of the company’s stock, valued at $4,952,655.84. This represents a 40.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Matt Aboud sold 2,971 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $52.67, for a total transaction of $156,482.57. Following the completion of the transaction, the senior vice president owned 64,843 shares in the company, valued at approximately $3,415,280.81. This represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 401,626 shares of company stock worth $20,847,911. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently made changes to their positions in the stock. Convergence Investment Partners LLC acquired a new position in shares of Century Aluminum in the 3rd quarter worth approximately $942,000. New Century Financial Group LLC acquired a new position in shares of Century Aluminum in the 3rd quarter worth approximately $987,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Century Aluminum by 620.8% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company’s stock worth $4,203,000 after acquiring an additional 123,285 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in shares of Century Aluminum in the 3rd quarter worth approximately $1,277,000. Finally, Principal Financial Group Inc. lifted its holdings in Century Aluminum by 35.4% during the 3rd quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company’s stock worth $10,301,000 after buying an additional 91,647 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Company 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.