Century Aluminum (NASDAQ:CENX) Reaches New 12-Month High – Here’s What Happened
by Kim Johansen · The Markets DailyCentury Aluminum Company (NASDAQ:CENX – Get Free Report)’s stock price reached a new 52-week high on Thursday . The company traded as high as $55.99 and last traded at $53.02, with a volume of 2624629 shares changing hands. The stock had previously closed at $53.51.
Analyst Ratings Changes
CENX has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Wells Fargo & Company raised their price target on shares of Century Aluminum from $46.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $54.33.
Check Out Our Latest Analysis on Century Aluminum
Century Aluminum Price Performance
The stock has a market capitalization of $4.95 billion, a P/E ratio of 132.55 and a beta of 2.24. The company has a 50 day moving average of $46.08 and a 200-day moving average of $34.13. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.51.
Century Aluminum (NASDAQ:CENX – Get Free Report) last issued its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.55%. The company had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $661.63 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. Sell-side analysts predict that Century Aluminum Company will post 2.76 EPS for the current year.
Insider Transactions at Century Aluminum
In other Century Aluminum news, EVP John Dezee sold 66,000 shares of Century Aluminum stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.72, for a total value of $3,347,520.00. Following the completion of the transaction, the executive vice president directly owned 97,647 shares in the company, valued at $4,952,655.84. The trade was a 40.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jesse E. Gary sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $48.19, for a total value of $7,228,500.00. Following the transaction, the chief executive officer directly owned 292,580 shares of the company’s stock, valued at $14,099,430.20. This trade represents a 33.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.76% of the company’s stock.
Institutional Investors Weigh In On Century Aluminum
Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Century Aluminum during the fourth quarter worth about $1,121,000. Beartown Capital Management LLC acquired a new position in Century Aluminum during the 4th quarter valued at about $1,959,000. Summit Global Investments bought a new position in Century Aluminum in the 4th quarter worth about $299,000. State of Tennessee Department of Treasury increased its stake in shares of Century Aluminum by 48.7% in the fourth quarter. State of Tennessee Department of Treasury now owns 18,772 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 6,152 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of Century Aluminum during the fourth quarter valued at approximately $227,000. 61.59% of the stock is currently owned by institutional investors.
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.