Impala Asset Management LLC Has $20.23 Million Stake in Century Aluminum Company $CENX

Impala Asset Management LLC lessened its holdings in shares of Century Aluminum Company (NASDAQ:CENX) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 689,000 shares of the industrial products company’s stock after selling 114,894 shares during the quarter. Century Aluminum makes up approximately 13.7% of Impala Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. Impala Asset Management LLC’s holdings in Century Aluminum were worth $20,229,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CENX. First Eagle Investment Management LLC boosted its stake in shares of Century Aluminum by 0.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 340,153 shares of the industrial products company’s stock worth $9,987,000 after acquiring an additional 2,097 shares during the period. Victory Capital Management Inc. lifted its holdings in Century Aluminum by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 106,007 shares of the industrial products company’s stock valued at $3,112,000 after purchasing an additional 8,081 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Century Aluminum during the third quarter worth $1,220,000. Journey Strategic Wealth LLC bought a new position in Century Aluminum during the third quarter worth $222,000. Finally, Royce & Associates LP acquired a new position in shares of Century Aluminum in the third quarter valued at $4,359,000. 61.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John Dezee sold 66,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $50.72, for a total value of $3,347,520.00. Following the completion of the transaction, the executive vice president owned 97,647 shares of the company’s stock, valued at $4,952,655.84. The trade was a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse E. Gary sold 150,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $48.19, for a total transaction of $7,228,500.00. Following the sale, the chief executive officer directly owned 292,580 shares of the company’s stock, valued at $14,099,430.20. This represents a 33.89% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 231,097 shares of company stock worth $11,369,118. 0.76% of the stock is currently owned by company insiders.

Century Aluminum Stock Performance

Shares of NASDAQ:CENX opened at $53.90 on Friday. Century Aluminum Company has a 12-month low of $13.05 and a 12-month high of $56.96. The company’s 50 day moving average price is $47.88 and its two-hundred day moving average price is $35.27. The firm has a market cap of $5.03 billion, a PE ratio of 134.75 and a beta of 2.17. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. The business had revenue of $633.70 million during 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 firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. Equities research analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current year.

Analyst Ratings Changes

CENX has been the subject of a number of research reports. Wall Street Zen upgraded shares of Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price on Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. B. Riley Financial increased their target price on Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, Zacks Research upgraded Century Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $54.33.

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.