Century Aluminum (NASDAQ:CENX) Shares Gap Up Following Insider Buying Activity

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Shares of Century Aluminum Co (NASDAQ:CENX) gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $6.99, but opened at $6.91. Century Aluminum shares last traded at $6.89, with a volume of 53,462 shares changing hands.

Specifically, Director Andrew G. Michelmore bought 5,000 shares of Century Aluminum stock in a transaction dated Thursday, June 13th. The stock was acquired at an average cost of $5.78 per share, for a total transaction of $28,900.00. Following the completion of the transaction, the director now directly owns 40,598 shares of the company’s stock, valued at $234,656.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.03% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on CENX shares. BidaskClub cut shares of Century Aluminum from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. ValuEngine upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. Zacks Investment Research cut shares of Century Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, TheStreet cut shares of Century Aluminum from a “c-” rating to a “d+” rating in a research report on Wednesday, May 22nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.14.

The stock has a market capitalization of $615.45 million, a PE ratio of -49.50 and a beta of 1.77. The company has a current ratio of 2.11, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported ($0.70) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.01. Century Aluminum had a negative net margin of 5.29% and a negative return on equity of 9.33%. The firm had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $482.58 million. During the same period last year, the business earned ($0.04) earnings per share. Century Aluminum’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Century Aluminum Co will post -0.89 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund increased its position in shares of Century Aluminum by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 32,113 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 1,246 shares during the last quarter. Comerica Bank increased its position in shares of Century Aluminum by 3.1% during the first quarter. Comerica Bank now owns 48,969 shares of the industrial products company’s stock valued at $447,000 after acquiring an additional 1,476 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Century Aluminum by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 398,412 shares of the industrial products company’s stock valued at $2,912,000 after acquiring an additional 2,312 shares during the last quarter. Legal & General Group Plc increased its position in shares of Century Aluminum by 2.4% during the fourth quarter. Legal & General Group Plc now owns 115,304 shares of the industrial products company’s stock valued at $846,000 after acquiring an additional 2,701 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Century Aluminum by 19.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,087 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 3,042 shares during the last quarter. Hedge funds and other institutional investors own 53.37% of the company’s stock.

Century Aluminum Company Profile (NASDAQ:CENX)

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.

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