Dockside LLC Acquires New Position in Century Aluminum Company $CENX

Dockside LLC bought a new position in shares of Century Aluminum Company (NASDAQ:CENX) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,298 shares of the industrial products company’s stock, valued at approximately $612,000.

Other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in Century Aluminum in the 1st quarter valued at approximately $25,000. Private Trust Co. NA acquired a new stake in shares of Century Aluminum in the fourth quarter valued at $28,000. Hollencrest Capital Management acquired a new stake in shares of Century Aluminum in the first quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its holdings in 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 during the period. Finally, Advisory Services Network LLC purchased a new position in Century Aluminum in the third quarter valued at $34,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CENX. B. Riley Financial cut their price target on Century Aluminum from $86.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. UBS Group assumed coverage on Century Aluminum in a research note on Monday. They issued a “buy” rating and a $60.00 price objective for the company. Weiss Ratings downgraded Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Zacks Research cut shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Century Aluminum presently has an average rating of “Moderate Buy” and an average price target of $72.00.

Century Aluminum Stock Performance

NASDAQ:CENX opened at $46.72 on Friday. Century Aluminum Company has a 12 month low of $20.91 and a 12 month high of $70.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The firm has a market capitalization of $4.62 billion, a PE ratio of 8.07 and a beta of 1.96. The business’s fifty day moving average price is $48.05 and its 200 day moving average price is $53.92.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. The company had revenue of $752.10 million during the quarter, compared to the consensus estimate of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The firm’s revenue for the quarter was up 59.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Century Aluminum Company will post 8.34 earnings per share for the current fiscal year.

About Century Aluminum

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.