Nicholas Investment Partners LP Buys New Stake in Century Aluminum Company $CENX

Nicholas Investment Partners LP bought a new stake in Century Aluminum Company (NASDAQ:CENX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 290,960 shares of the industrial products company’s stock, valued at approximately $11,400,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CENX. Jones Financial Companies Lllp purchased a new position in shares of Century Aluminum in the first quarter valued at $25,000. Private Trust Co. NA purchased a new position in shares of Century Aluminum in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 1,306 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Century Aluminum in the third quarter valued at $34,000. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Century Aluminum in the fourth quarter valued at $40,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CENX has been the subject of a number of recent research reports. Zacks Research lowered shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings raised shares of Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Century Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday. Wells Fargo & Company raised their target price on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, B. Riley Financial raised their price target on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Century Aluminum presently has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Insider Transactions at Century Aluminum

In related news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.47, for a total value of $8,320,500.00. Following the completion of the sale, the chief executive officer directly owned 142,580 shares in the company, valued at $7,908,912.60. This trade represents a 51.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

Century Aluminum Stock Up 0.4%

Shares of CENX opened at $61.19 on Friday. The company has a market cap of $6.06 billion, a PE ratio of 18.27 and a beta of 1.90. The business has a fifty day moving average of $62.70 and a 200 day moving average of $51.19. Century Aluminum Company has a 52-week low of $16.59 and a 52-week high of $70.43. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37.

Century Aluminum Company Profile

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.