Short Interest in Century Aluminum Co (NASDAQ:CENX) Declines By 17.0%

Century Aluminum Co (NASDAQ:CENX) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 6,115,300 shares, a decrease of 17.0% from the June 30th total of 7,365,600 shares. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 12.4% of the shares of the company are sold short.

A number of research analysts have issued reports on CENX shares. BidaskClub cut Century Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Zacks Investment Research lowered Century Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, TheStreet lowered 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.14.

In other Century Aluminum news, Director Andrew G. Michelmore acquired 5,000 shares of Century Aluminum stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $5.78 per share, with a total value of $28,900.00. Following the completion of the transaction, the director now owns 40,598 shares of the company’s stock, valued at $234,656.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Century Aluminum by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 627,332 shares of the industrial products company’s stock valued at $4,586,000 after buying an additional 53,229 shares during the period. Geode Capital Management LLC grew its holdings in shares of Century Aluminum by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 562,761 shares of the industrial products company’s stock worth $4,112,000 after buying an additional 17,070 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Century Aluminum by 0.6% in 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 purchasing an additional 2,312 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Century Aluminum by 374.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,847 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 13,295 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Century Aluminum in the fourth quarter valued at approximately $167,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

Shares of CENX stock traded down $0.21 during trading on Thursday, reaching $5.67. 1,066,256 shares of the company’s stock were exchanged, compared to its average volume of 1,392,870. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 0.79. The stock has a market capitalization of $522.67 million, a PE ratio of -40.50 and a beta of 1.94. Century Aluminum has a twelve month low of $5.37 and a twelve month high of $13.47. The business has a fifty day moving average price of $6.97.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Thursday, August 1st. The industrial products company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. Century Aluminum had a negative return on equity of 15.98% and a negative net margin of 7.28%. The firm had revenue of $473.10 million during the quarter, compared to the consensus estimate of $475.87 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up .7% compared to the same quarter last year. Sell-side analysts anticipate that Century Aluminum will post -1.01 EPS for the current fiscal year.

About Century Aluminum

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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