Axar Capital Management Exits Position in Century Aluminum Co (CENX)

Century Aluminum Co (CENX) : Axar Capital Management has sold out all of its stake in Century Aluminum Co during the most recent quarter, according to the disclosure filed by the company on May 11, 2016 with the SEC. The investment management company has sold out 1,575,000 shares of Century Aluminum Co which is valued at $10.3 Million.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. added CENX to its portfolio by purchasing 158,500 company shares during the most recent quarter which is valued at $1 Million. Century Aluminum Co makes up approx 0.13% of Landscape Capital Management L.l.c.’s portfolio.Wedge Capital Management L L Pnc reduced its stake in CENX by selling 31,137 shares or 35.09% in the most recent quarter. The Hedge Fund company now holds 57,588 shares of CENX which is valued at $440,548.Rhumbline Advisers boosted its stake in CENX in the latest quarter, The investment management firm added 5,195 additional shares and now holds a total of 87,407 shares of Century Aluminum Co which is valued at $668,664.

Century Aluminum Co opened for trading at $6.69 and hit $6.98 on the upside on Monday, eventually ending the session at $6.57, with a gain of 0.46% or 0.03 points. The heightened volatility saw the trading volume jump to 15,82,951 shares. Company has a market cap of $572 M.

On the company’s financial health, Century Aluminum Co reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.47. The company had revenue of $318.90 million for the quarter, compared to analysts expectations of $335.08 million. The company’s revenue was down -45.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on Century Aluminum Co. Company shares were Reiterated by Deutsche Bank on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 7.50 from a previous price target of $7 .Company shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 8 from a previous price target of $6 .Company shares were Reiterated by Deutsche Bank on Mar 23, 2016 to “Hold”, Firm has raised the Price Target to $ 7 from a previous price target of $6 .

Century Aluminum Company (Century) is a holding company engaged in the production of primary aluminum and operation of aluminum reduction facilities or smelters in the United States and Iceland. The Company operates three United States aluminum smelters in Hawesville Kentucky (Hawesville) Robards Kentucky (Sebree) and Mt. Holly South Carolina (Mt. Holly) and one smelter in Grundartangi Iceland (Grundartangi). The Company produces several primary products at its facilities which include billet foundry slab and sow. The Company’s annual primary aluminum production capacity is approximately 1166000 tons per year (tpy). In addition to its primary aluminum assets the Company also owns a carbon anode production facility located in Vlissingen the Netherlands (Vlissingen) and Baise Haohai Carbon Company Ltd. (BHH) that owns and operates a carbon anode and cathode facility located in the Guangxi Zhuang Autonomous Region of south China.

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