Century Aluminum Company $CENX is Glencore plc’s 2nd Largest Position

Glencore plc increased its stake in Century Aluminum Company (NASDAQ:CENX) by 33.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,511,894 shares of the industrial products company’s stock after purchasing an additional 13,454,538 shares during the quarter. Century Aluminum comprises about 26.4% of Glencore plc’s holdings, making the stock its 2nd largest position. Glencore plc owned 57.33% of Century Aluminum worth $2,096,596,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CENX. Jones Financial Companies Lllp purchased a new position in Century Aluminum during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $33,000 after acquiring an additional 1,306 shares in the last quarter. Advisory Services Network LLC purchased a new position in Century Aluminum during the third quarter valued at approximately $34,000. CWM LLC grew its stake in Century Aluminum by 26.3% during the third quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 332 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in Century Aluminum during the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Insider Transactions at Century Aluminum

In other news, SVP Matt Aboud sold 12,126 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $52.50, for a total value of $636,615.00. Following the completion of the transaction, the senior vice president directly owned 67,814 shares in the company, valued at approximately $3,560,235. This represents a 15.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert F. Hoffman sold 10,529 shares of the company’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 sale, 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. Insiders have sold a total of 401,626 shares of company stock valued at $20,847,911 over the last quarter. 0.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CENX shares. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Wells Fargo & Company boosted their target price on Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Zacks Research cut Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Finally, B. Riley Financial boosted their target price on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Century Aluminum Price Performance

CENX stock opened at $65.57 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98. Century Aluminum Company has a one year low of $13.05 and a one year high of $67.63. The stock has a market cap of $6.49 billion, a PE ratio of 163.93 and a beta of 1.99. The firm has a 50 day simple moving average of $53.17 and a two-hundred day simple moving average of $40.82.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data 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. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The firm had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $661.63 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts predict that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Century Aluminum Company 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.