Century Aluminum (NASDAQ:CENX) Shares Down 5.7% on Insider Selling

Century Aluminum Company (NASDAQ:CENX) shares were down 5.7% on Monday following insider selling activity. The company traded as low as $46.53 and last traded at $45.9140. Approximately 631,327 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 2,055,997 shares. The stock had previously closed at $48.71.

Specifically, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $48.19, for a total value of $7,228,500.00. Following the transaction, the chief executive officer owned 292,580 shares in the company, valued at approximately $14,099,430.20. This represents a 33.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several brokerages have commented on CENX. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. BMO Capital Markets upped their target price on shares of Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Century Aluminum presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Century Aluminum Trading Down 7.4%

The company has a 50 day simple moving average of $37.19 and a 200 day simple moving average of $29.80. The company has a current ratio of 1.71, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $4.21 billion, a PE ratio of 53.07 and a beta of 2.26.

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

Hedge Funds Weigh In On Century Aluminum

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Century Aluminum by 1,291.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the industrial products company’s stock worth $25,000 after buying an additional 1,266 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Century Aluminum during the first quarter worth about $25,000. Private Trust Co. NA acquired a new position in shares of Century Aluminum during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Century Aluminum in the third quarter valued at about $34,000. 61.59% of the stock is currently owned by hedge funds and other 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.