SummitTX Capital L.P. Invests $3.35 Million in Century Aluminum Company $CENX

SummitTX Capital L.P. purchased a new position in Century Aluminum Company (NASDAQ:CENX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,074 shares of the industrial products company’s stock, valued at approximately $3,350,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Century Aluminum during the first quarter worth about $29,000. Summit Securities Group LLC acquired a new stake in Century Aluminum during the first quarter worth about $42,000. Private Trust Co. NA bought a new position in Century Aluminum in the 4th quarter valued at about $28,000. Strs Ohio bought a new position in Century Aluminum in the 1st quarter valued at about $47,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Century Aluminum in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 61.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings cut shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. B. Riley Financial cut their target price on Century Aluminum from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, BMO Capital Markets set a $75.00 target price on Century Aluminum and gave the company an “outperform” rating in a report on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.00.

Century Aluminum Trading Down 2.9%

NASDAQ CENX opened at $44.87 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37. Century Aluminum Company has a twelve month low of $20.21 and a twelve month high of $70.43. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 13.39 and a beta of 1.96. The business’s fifty day moving average is $52.89 and its 200 day moving average is $53.96.

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.