Invenomic Capital Management LP Purchases Shares of 155,269 Century Aluminum Company $CENX

Invenomic Capital Management LP purchased a new stake in Century Aluminum Company (NASDAQ:CENX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 155,269 shares of the industrial products company’s stock, valued at approximately $4,559,000. Invenomic Capital Management LP owned 0.17% of Century Aluminum at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CENX. Jones Financial Companies Lllp bought a new stake in Century Aluminum in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in 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 during the last quarter. CWM LLC lifted its position in shares of Century Aluminum by 26.3% in 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 during the period. PNC Financial Services Group Inc. lifted its position in shares of Century Aluminum by 12.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 506 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Century Aluminum in the 2nd quarter valued at $207,000. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Stock Performance

NASDAQ:CENX opened at $55.65 on Tuesday. The company has a fifty day moving average of $49.99 and a 200-day moving average of $37.09. The firm has a market capitalization of $5.51 billion, a P/E ratio of 139.13 and a beta of 2.16. 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 Company has a twelve month low of $13.05 and a twelve month high of $59.12.

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 the consensus estimate of $1.25. The business had revenue of $633.70 million for the quarter, compared to analyst estimates of $661.63 million. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. Century Aluminum’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Century Aluminum Company will post 2.76 EPS for the current year.

Insider Activity at Century Aluminum

In other news, CAO Robert F. Hoffman sold 10,529 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total transaction of $594,993.79. Following the transaction, the chief accounting officer owned 56,643 shares of the company’s stock, valued at $3,200,895.93. This represents a 15.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matt Aboud sold 12,126 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $52.50, for a total value of $636,615.00. Following the completion of the sale, the senior vice president owned 67,814 shares of the company’s stock, valued at approximately $3,560,235. This represents a 15.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 251,626 shares of company stock worth $12,527,411 over the last three months. 0.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CENX has been the subject of several recent analyst reports. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. B. Riley Financial upped their price target on shares of Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Wells Fargo & Company lifted their price objective on Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued 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 given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Century Aluminum currently has an average rating of “Buy” and a consensus price target 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.