Chesapeake Asset Management LLC Invests $510,000 in Century Aluminum Company $CENX

Chesapeake Asset Management LLC bought a new position in shares of Century Aluminum Company (NASDAQ:CENX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,015 shares of the industrial products company’s stock, valued at approximately $510,000.

Other large investors have also recently bought and sold shares of the company. CWM LLC increased its position in shares of Century Aluminum by 26.3% during the 3rd quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 332 shares in the last quarter. Arizona State Retirement System boosted its position in Century Aluminum by 2.5% in the third quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company’s stock valued at $486,000 after buying an additional 411 shares in the last quarter. Algert Global LLC grew its position in Century Aluminum by 0.8% during the 3rd quarter. Algert Global LLC now owns 53,943 shares of the industrial products company’s stock worth $1,584,000 after acquiring an additional 450 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Century Aluminum by 12.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 506 shares in the last quarter. Finally, Sei Investments Co. raised its position in Century Aluminum by 2.5% in the 2nd quarter. Sei Investments Co. now owns 20,926 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 509 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Stock Performance

Shares of Century Aluminum stock opened at $48.97 on Friday. Century Aluminum Company has a 52 week low of $13.05 and a 52 week high of $59.12. The firm has a fifty day moving average of $50.72 and a two-hundred day moving average of $37.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 122.43 and a beta of 2.17.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.25. The firm had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $661.63 million. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The company’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. As a group, equities research analysts predict that Century Aluminum Company will post 2.76 EPS for the current year.

Insider Activity

In other news, SVP Matt Aboud sold 2,971 shares of Century Aluminum stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.67, for a total transaction of $156,482.57. Following the transaction, the senior vice president directly owned 64,843 shares of the company’s stock, valued at $3,415,280.81. This trade represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Robert F. Hoffman sold 10,529 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total transaction of $594,993.79. Following the completion of the transaction, the chief accounting officer directly owned 56,643 shares of the company’s stock, valued at $3,200,895.93. This trade represents a 15.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 401,626 shares of company stock valued at $20,847,911. 0.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Wells Fargo & Company raised their price target on shares of Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. B. Riley Financial boosted their target price on Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $57.00.

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.