Century Aluminum (NASDAQ:CENX - Get Free Report)'s stock price dropped 15.5% during mid-day trading on Friday . The stock traded as low as $14.32 and last traded at $14.76. Approximately 2,834,998 shares were traded during mid-day trading, an increase of 106% from the average daily volume of 1,376,323 shares. The stock had previously closed at $17.46.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. BMO Capital Markets upgraded Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Monday, February 24th. StockNews.com downgraded shares of Century Aluminum from a "hold" rating to a "sell" rating in a research note on Monday, March 24th.
Check Out Our Latest Analysis on CENX
Century Aluminum Trading Up 16.4 %
The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 5.04 and a beta of 2.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71. The company has a 50 day moving average price of $18.72 and a 200 day moving average price of $19.13.
Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its earnings results on Thursday, February 20th. The industrial products company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. Century Aluminum had a net margin of 14.69% and a return on equity of 13.38%. The company had revenue of $631.00 million for the quarter, compared to analysts' expectations of $515.27 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, research analysts expect that Century Aluminum will post 2.76 earnings per share for the current year.
Insider Activity at Century Aluminum
In other news, CAO Robert F. Hoffman sold 2,500 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $19.99, for a total transaction of $49,975.00. Following the completion of the transaction, the chief accounting officer now directly owns 64,083 shares in the company, valued at $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 SEC, which is available at the SEC website. 0.68% of the stock is owned by insiders.
Hedge Funds Weigh In On Century Aluminum
Hedge funds have recently bought and sold shares of the company. Glencore plc acquired a new stake in shares of Century Aluminum during the fourth quarter worth about $729,427,000. Dimensional Fund Advisors LP raised its stake in Century Aluminum by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,937,970 shares of the industrial products company's stock valued at $53,531,000 after buying an additional 28,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Century Aluminum by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,067,234 shares of the industrial products company's stock worth $37,665,000 after purchasing an additional 111,203 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Century Aluminum by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,279,772 shares of the industrial products company's stock valued at $20,774,000 after purchasing an additional 13,486 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Century Aluminum by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 959,033 shares of the industrial products company's stock valued at $15,565,000 after purchasing an additional 319,164 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company's stock.
About Century Aluminum
(
Get Free Report)
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.
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