Sheets Smith Investment Management Acquires Shares of 22,196 Century Aluminum Company $CENX

Sheets Smith Investment Management acquired a new position in shares of Century Aluminum Company (NASDAQ:CENX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 22,196 shares of the industrial products company’s stock, valued at approximately $652,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners boosted its holdings in Century Aluminum by 340.1% during the second quarter. Boston Partners now owns 1,733,668 shares of the industrial products company’s stock worth $31,248,000 after purchasing an additional 1,339,744 shares during the last quarter. Sourcerock Group LLC lifted its position in shares of Century Aluminum by 612.0% during the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock worth $25,662,000 after buying an additional 1,224,088 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Century Aluminum in the 1st quarter worth approximately $19,317,000. Nuveen LLC purchased a new position in shares of Century Aluminum in the 1st quarter worth approximately $14,726,000. Finally, Encompass Capital Advisors LLC bought a new position in shares of Century Aluminum in the first quarter valued at approximately $13,920,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Insiders Place Their Bets

In other Century Aluminum news, SVP Agust F. Hafberg sold 9,493 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $27.91, for a total transaction of $264,949.63. Following the sale, the senior vice president owned 55,260 shares of the company’s stock, valued at $1,542,306.60. The trade was a 14.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CENX. B. Riley boosted their price objective on Century Aluminum from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. BMO Capital Markets boosted their price target on shares of Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Zacks Research upgraded shares of Century Aluminum from a “strong sell” rating to a “hold” rating in a report on Thursday, December 4th. Wells Fargo & Company lifted their price objective on shares of Century Aluminum from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Century Aluminum Trading Up 5.3%

Shares of CENX opened at $33.81 on Friday. Century Aluminum Company has a fifty-two week low of $13.05 and a fifty-two week high of $34.51. The business has a 50-day moving average of $30.20 and a 200 day moving average of $25.00. The firm has a market cap of $3.16 billion, a P/E ratio of 39.78 and a beta of 2.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.79 and a current ratio of 1.71.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.23). The business had revenue of $632.20 million for the quarter, compared to the consensus estimate of $629.85 million. Century Aluminum had a return on equity of 12.83% and a net margin of 3.47%.Century Aluminum’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. As a group, research analysts forecast that Century Aluminum Company will post 2.76 EPS for the current year.

About Century Aluminum

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.