Century Aluminum (NASDAQ:CENX) Shares Down 15.5% – What’s Next?

Century Aluminum (NASDAQ:CENX)’s stock price fell 15.5% during trading on Friday . The stock traded as low as $14.32 and last traded at $14.76. 2,834,998 shares traded hands during trading, an increase of 106% from the average session volume of 1,376,323 shares. The stock had previously closed at $17.46.

Analysts Set New Price Targets

Several research analysts recently issued reports on CENX shares. StockNews.com lowered Century Aluminum from a “hold” rating to a “sell” rating in a research report on Monday, March 24th. BMO Capital Markets raised Century Aluminum from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday, February 24th.

Century Aluminum Stock Down 14.1 %

The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The stock’s 50-day moving average price is $19.01 and its 200-day moving average price is $19.15. The company has a market cap of $1.38 billion, a P/E ratio of 4.74 and a beta of 2.56.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $631.00 million for the quarter, compared to analyst estimates of $515.27 million. Century Aluminum had a return on equity of 13.38% and a net margin of 14.69%. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, research analysts forecast that Century Aluminum will post 2.76 EPS for the current year.

Insider Activity at Century Aluminum

In other Century Aluminum news, CAO Robert F. Hoffman sold 2,500 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $19.99, for a total value of $49,975.00. Following the transaction, the chief accounting officer now directly owns 64,083 shares of the company’s stock, valued at approximately $1,281,019.17. This trade represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Century Aluminum

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its holdings in Century Aluminum by 159.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 2,000 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Century Aluminum during the fourth quarter worth $39,000. Franklin Resources Inc. grew its holdings in Century Aluminum by 7.9% during the third quarter. Franklin Resources Inc. now owns 30,115 shares of the industrial products company’s stock worth $524,000 after buying an additional 2,198 shares in the last quarter. Wellington Management Group LLP raised its position in Century Aluminum by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 411,589 shares of the industrial products company’s stock valued at $7,499,000 after buying an additional 2,358 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in Century Aluminum by 2,889.3% during the 4th quarter. AlphaQuest LLC now owns 2,511 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 2,427 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

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.