Century Aluminum Company $CENX Shares Acquired by CenterBook Partners LP

CenterBook Partners LP grew its stake in Century Aluminum Company (NASDAQ:CENX) by 174.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,831 shares of the industrial products company’s stock after buying an additional 49,475 shares during the quarter. CenterBook Partners LP’s holdings in Century Aluminum were worth $2,800,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of Century Aluminum by 74.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 14,375 shares of the industrial products company’s stock valued at $517,000 after buying an additional 6,142 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Century Aluminum by 20.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,363 shares of the industrial products company’s stock valued at $553,000 after acquiring an additional 2,600 shares during the period. Vise Technologies Inc. bought a new position in shares of Century Aluminum during the 3rd quarter valued at approximately $242,000. State of Wyoming grew its stake in shares of Century Aluminum by 68.9% during the 3rd quarter. State of Wyoming now owns 5,590 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 2,281 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Century Aluminum by 23.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,000 shares of the industrial products company’s stock worth $1,007,000 after acquiring an additional 5,300 shares in the last quarter. Institutional investors own 61.59% of the company’s stock.

Wall Street Analysts Forecast Growth

CENX has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Century Aluminum from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Barclays assumed coverage on shares of Century Aluminum in a research report on Wednesday, October 14th. They issued an “equal weight” rating and a $40.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Century Aluminum in a research note on Monday, October 19th. B. Riley Financial reduced their price objective on shares of Century Aluminum from $72.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. Finally, Wall Street Zen downgraded shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Century Aluminum News Summary

Here are the key news stories impacting Century Aluminum this week:

• Positive Sentiment: Shipments rose about 33% sequentially to 173,483 tonnes, aided by the restart of the company’s Iceland smelter. Revenue increased 52% year over year to $961.2 million, while reported diluted EPS was $2.89, up from $0.56 a year earlier. Century Aluminum Q3 results
• Positive Sentiment: Quarterly revenue exceeded analyst estimates, and the production recovery could support further sales growth if operating conditions remain favorable. Iceland smelter restart and Q3 performance
• Neutral Sentiment: Wells Fargo lowered its price target from $79 to $71 but kept an Overweight rating, indicating continued optimism despite a more cautious valuation. Wells Fargo rating and target
• Negative Sentiment: Adjusted EPS was $2.58, below the cited analyst consensus of $2.67. Reports attributed pressure to power and operating costs, tempering the strong shipment and revenue figures. Q3 results and cost pressures

Century Aluminum Stock Up 11.3%

Shares of CENX opened at $33.47 on Friday. The firm has a fifty day moving average price of $37.87 and a 200-day moving average price of $49.41. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $3.31 billion, a P/E ratio of 3.92 and a beta of 2.17. Century Aluminum Company has a 12-month low of $25.40 and a 12-month high of $70.43.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $961.20 million for the quarter, compared to analysts’ expectations of $951.71 million. Century Aluminum had a net margin of 29.74% and a return on equity of 53.12%. The firm’s revenue for the quarter was up 52.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. Equities research analysts expect that Century Aluminum Company will post 7.64 earnings per share for the current year.

Century Aluminum Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.