Century Aluminum (NASDAQ:CENX) Issues Earnings Results

Century Aluminum (NASDAQ:CENX) released its quarterly earnings data on Thursday. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.32), FiscalAI reports. Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The business had revenue of $632.20 million for the quarter, compared to the consensus estimate of $629.85 million. During the same quarter last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis.

Century Aluminum Stock Up 1.2%

NASDAQ CENX traded up $0.33 during trading on Thursday, hitting $28.98. The stock had a trading volume of 1,841,377 shares, compared to its average volume of 1,752,962. Century Aluminum has a 12 month low of $13.05 and a 12 month high of $34.51. The company has a market capitalization of $2.70 billion, a PE ratio of 24.98 and a beta of 2.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.75. The company’s 50-day moving average price is $27.92 and its two-hundred day moving average price is $22.16.

Insider Buying and Selling

In other news, SVP Agust F. Hafberg sold 9,493 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was 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 in the company, valued at $1,542,306.60. This represents a 14.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matt Aboud sold 12,027 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the sale, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. This represents a 16.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Century Aluminum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new stake in shares of Century Aluminum during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Century Aluminum by 253.1% during the 2nd 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. Tower Research Capital LLC TRC increased its holdings in shares of Century Aluminum by 963.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,094 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 10,957 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Century Aluminum by 89.2% during the 2nd quarter. Headlands Technologies LLC now owns 14,996 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 7,070 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Century Aluminum during the 2nd quarter worth approximately $283,000. Institutional investors own 61.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CENX shares. B. Riley lifted their price objective on Century Aluminum from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, October 8th. Zacks Research upgraded Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Monday, August 18th. Wells Fargo & Company cut their price objective on Century Aluminum from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Century Aluminum in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Century Aluminum currently has a consensus rating of “Buy” and a consensus price target of $27.75.

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.