Aristeia Capital L.L.C. Acquires New Stake in Century Aluminum Company $CENX

Aristeia Capital L.L.C. acquired a new stake in Century Aluminum Company (NASDAQ:CENX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,979 shares of the industrial products company’s stock, valued at approximately $408,000.

Several other hedge funds have also recently added to or reduced their stakes in CENX. Nuveen LLC acquired a new position in Century Aluminum in the 1st quarter valued at $14,726,000. Encompass Capital Advisors LLC acquired a new stake in shares of Century Aluminum in the 1st quarter worth $13,920,000. Boston Partners acquired a new stake in shares of Century Aluminum in the 1st quarter worth $7,309,000. Millennium Management LLC increased its stake in shares of Century Aluminum by 333.7% in the 4th quarter. Millennium Management LLC now owns 457,728 shares of the industrial products company’s stock worth $8,340,000 after acquiring an additional 352,186 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Century Aluminum in the 1st quarter worth $6,077,000. 61.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Matt Aboud sold 12,027 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total transaction of $279,868.29. Following the completion of the transaction, the senior vice president directly owned 62,589 shares in the company, valued at $1,456,446.03. This trade represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CENX. BMO Capital Markets reaffirmed an “outperform” rating on shares of Century Aluminum in a research note on Friday, August 8th. B. Riley raised their target price on Century Aluminum from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 18th. Finally, Wall Street Zen cut Century Aluminum from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $24.67.

Century Aluminum Stock Performance

NASDAQ CENX opened at $22.09 on Monday. The stock has a market cap of $2.06 billion, a PE ratio of 19.04 and a beta of 2.55. The company has a current ratio of 1.75, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. Century Aluminum Company has a twelve month low of $11.63 and a twelve month high of $25.39. The stock has a fifty day simple moving average of $21.36 and a 200-day simple moving average of $18.83.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.39). Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The business had revenue of $628.10 million for the quarter, compared to analysts’ expectations of $606.10 million. Equities analysts anticipate that Century Aluminum Company will post 2.76 earnings per share for the current year.

Century Aluminum Company Profile

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.