Aristeia Capital L.L.C. Makes New Investment in Century Aluminum (NASDAQ:CENX)

Aristeia Capital L.L.C. bought a new stake in Century Aluminum (NASDAQ:CENX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 40,628 shares of the industrial products company’s stock, valued at approximately $681,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Century Aluminum by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 5,819,805 shares of the industrial products company’s stock worth $89,567,000 after buying an additional 39,900 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Century Aluminum by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,243,573 shares of the industrial products company’s stock valued at $39,380,000 after buying an additional 42,167 shares in the last quarter. American Century Companies Inc. raised its stake in Century Aluminum by 30.4% during the 2nd quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock worth $19,870,000 after buying an additional 276,304 shares during the period. Castle Hook Partners LP lifted its holdings in Century Aluminum by 1,147.0% during the first quarter. Castle Hook Partners LP now owns 976,894 shares of the industrial products company’s stock worth $15,034,000 after acquiring an additional 898,554 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Century Aluminum by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 850,179 shares of the industrial products company’s stock worth $10,321,000 after acquiring an additional 48,631 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Insider Activity at Century Aluminum

In other Century Aluminum news, CEO Jesse E. Gary sold 60,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $16.21, for a total transaction of $972,600.00. Following the sale, the chief executive officer now directly owns 62,447 shares of the company’s stock, valued at approximately $1,012,265.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CENX has been the topic of a number of research analyst reports. B. Riley dropped their price target on Century Aluminum from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets dropped their target price on shares of Century Aluminum from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research note on Monday, August 12th.

Century Aluminum Stock Performance

CENX opened at $14.65 on Tuesday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 6.72 and a beta of 2.48. The business’s 50-day moving average price is $14.31 and its two-hundred day moving average price is $15.75. Century Aluminum has a 1 year low of $5.70 and a 1 year high of $21.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.72 and a quick ratio of 0.63.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $560.80 million for the quarter, compared to the consensus estimate of $530.90 million. Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. Equities analysts expect that Century Aluminum will post 0.07 EPS for the current fiscal year.

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.